The company's management estimates that 2% of net credit sales will be uncollectible (bad debt) for the year 2015. Net credit sales for the year amounted to $250,000 and cash sales were $50,000. What is the Journal Entry for Bad Debt Expense?

Group of answer choices

Bad Debt Expense $6000

Allowance for Bad Debts $6000

Allowance for Bad Debt $6000

Accounts Receivable $6000

Bad Debt Expense 5000

Allowance for Bad Debt Expense 5000

Bad Debt Expense 5000

Account Receivable 5000