Question 5 of 7 View Policies Current Attempt in Progress Bailey Inc.'s books revealed the following data for 2020 after all adjustments were made: Cash sales $825,000 Sales returns (on credit sales) 35,000 Allowance for doubtful accounts (credit 3,800 balance) Credit sales 575,000 Accounts receivable 168,000 Bailey estimates bad debt expense based on 2% of net credit sales. The net carrying value of accounts receivable before the bad debt expense is recognized is O $156,500. $164,200. O $168,000 O $171,800