23. At the close of its first year of operations, December 31, 2019, Nesbit Company had net accounts receivable of $520,000. During 2019, the company had credit sales of $2,400,000 and collections on account of $1,000,000. Nesbit wrote oll, as uncollectible, accounts receivable of $60,000. What did Nesbit Company report as bad debt expense on its December 31, 2019 income statement