What is the bad debts expense based on the following information? Assume management calculates bad debts based on 3% of total net credit sales. Sales returns and allowances for the year were $35,000. The allowance for doubtful accounts balance was $5,000. OA) $17,629 B) $16,579 C) $16,429 OD) $11,353 What is the bad debts expense based on the following information? Assume management calculates bad debts based on 3% of total net credit sales. Sales returns and allowances for the year were $35,000. The allowance for doubtful accounts balance was $5,000. OA) $17,629 B) $16,579 C) $16,429 OD) $11,353