Question 6 5 pts Gem Corporation had a 1/1/20 credit balance in the Allowance for Doubtful Accounts of $40,000. During 2020, it wrote off $28,800 of accounts. The balance in Accounts Receivable was $800,000 at 1/1 and $960,000 at 12/31. At 12/31/20, Gem estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2020? O $59,200 $36,800 $8,000 None of these are correct $48,000