Data for the year ended December 31 are presented below: Sales (credit) $2,500,000 Sales returns and allowances 50.000 640.000 Accounts Receivable (December 31) Allowance for Doubtful Accounts (Before adjustment at December 31) Estimated amount of uncollected accounts based on aging analysis 20.000 45.000 Refer to A Company. If the company estimates its bad debts at 1% of net credit sales, what amount will be reported as bad debt expense? O $24,500 O $44,500 O $4,500 $25,000