Table 5 On December 31, Grubbs Company has the following account balances Accounts receivable $330,000 Allowance for doubtful accounts 7,500 debit Net credit sales 1,500,000 3.33 pts Assume instead, Grubbs estimates that 10% of accounts receivable will be uncollectible. Under the percentage of receivables method (balance sheet method), bad debt expense for the period would be: O $33,000 $37,500 O $28,500 O $40,500 O $25,500