On December 31, 2015, the accounts receivable account and allowance for doubtful accounts of Beckman Corporation have the balances of $600,000 debit and $5,000 debit, respectively. Net sales for the year 2015 are $1,000,000. The company uses the percentage of receivables method to account for bad debts, and the percentage for estimated uncollectible is 5%. The amount of the adjusting entry for bad debt expense that would be recorded on December 31, 2015 is:
a. $30,000
b. $35,000
c. $50,000
d. $29,750