Question 6 10 pts Bad debts are estimated to be 2% of credit sales. This year, Your Company started with a $95,000 balance in the Accounts Receivable account and a zero balance in the Allowance for Doubtful Accounts account. During the year, Your Company had $50,000 of cash sales and $55,000 of sales on account. The company collected $124,000 cash from its account receivable. How much is the bad debts expense for the year? O $2,480. O $1,100 O $ 520. O $1,900