S n 33 Matrix ura urces The Allowance for Bad Debts account has a credit balance of $5000 before the adjusting entry for bad debts expense. The company's management estimates that 5% of net credit sales will be uncollectible for the year 2017. Net credit sales for the year amounted to $290,000. What is the amount of Bad Debts Expense reported on the income statement for 2017? O $14,500 O $7250 O $19,500 O $9500

The Allowance for Bad Debts account has a credit balance of $5000 before the adjusting entry for bad debts expense. The company's management estimates that 5% of net credit sales will be uncollectible for the year 2017. Net credit sales for the year amounted to $290,000. What is the amount of Bad Debts Expense reported on the income statement for 2017? $14,500 $7250 $19,500 $9500