5. value: 3.33 points The following selected amounts are reported on the year-end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense. Accounts receivable Allowance for Doubtful Accounts $ 443,000 Debit 1,330 Debit 2,180,000 Credit Net Sales All sales are made on credit. Based on past experience, the company estimates 3.0% of credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense? Debit Bad Debts Expense $66,730; credit Allowance for Doubtful Accounts $66,730. Debit Bad Debts Expense $14,620; credit Allowance for Doubtful Accounts $14,620. O Debit Bad Debts Expense $64,070; credit Allowance for Doubtful Accounts $64,070. Debit Bad Debts Expense $65,400; credit Allowance for Doubtful Accounts $65,400. O Debit Bad Debts Expense $13,290; credit Allowance for Doubtful Accounts $13,290