Using the following information: 12/31/19 Accounts receivable HK$525,000 Allowance (40,000) Cash realizable value HK$485,000 During 2020, sales on account were HK$145,000 and collections on account were HK$100,000. Also during 2020, the company wrote off HK$5,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at HK$45,000. Bad debt expense for 2020 is? a. HK$35,000 b. HK$5,000 c. HK$10,000 d. HK$45,000