Problem #2 (2 PTS) Compute bad debt expense based on the following information: (a) LRP Company estimates that 3% of net sales will become uncollectible. Credit sales revenue are $600,000, and the allowance for doubtful accounts has a $5,000 credit balance (b) LRP Company estimates that 10% of accounts receivable will become uncollectible. Accounts receivable are $160,000 at the end of the year, and the allowance for doubtful accounts has a $400 debit balance