Question: help asap ABC Company uses the allowance method and estimates bad debts using the percent-of-sales method. The company's management estimates that 2% of net credit

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ABC Company uses the allowance method and estimates bad debts using the percent-of-sales method. The company's management estimates that 2% of net credit salos will be uncollectible for the year 2025. Net credit sales for the year amounted to $290,000. What is the journal entry to record the estimated bad debts expense? O A Debit Bad Debts Expense for $5,800, Credit Allowance for Bad Debts for $5,800 OB. Debit Allowance for Bad Debts for $290,000; Credit Bad Debts Expense for $290,000 OC. Dobit Allowance for Bad Debts for $5,800; Credit Bad Debts Expense for $5,800 OD. Debit Bad Debts Expense for $200,000; Credit Allowance for Bad Debts for $290,000 Time Reminina: 0-45 36 Nasd

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