The following information is from the 2017 records of Armand Music Shop: W Accounts receivable, December 31, 2017 $45,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,200 (debit) 176,000 Net credit sales for 2017 estion Accounts written off as uncollectible during 2017 Cash sales during 2017 14,000 30,000 Bad debts expense is estimated by the percent-of-sales method. Management estimates that 4% of net credit sales will be uncollectible. Calculate the amount of bad debts expense for 2017 ewood Inc re intermediate o OA. $8,240 O B. $5,240 $24,050 O C. $7,040 O D. $5,840 510,021 3017 2.025