Wren Company had the following account bances at December 31. Year 1: Accounts receivable Allowance for doubtful accounts before any provision for Year 1 doubtful accounts expense) Credit sales for Year 1 $ 900.000 16,000 1,750,000 Wren is considering the following method of estimating doubtful accounts expense for year 1: Based on credit sales at 2% Based on accounts receivable at 5% What amount should Wren charge to doubtful accounts expense under each method? Percentage of credit sales Percentage of accounts receivable $35,000 $29,000 $51,000 $45,000 $35,000 $45.000 $51.000 $29,000