A company sells a plant asset that originally cost $552000 for $216000 on December 31, 2017. The accumulated depreciation account had a balance of $276000 after the current year's depreciation of $46000 had been recorded. The company should recognize a $40000 gain on disposal. $216000 gain on disposal. $216000 loss on disposal. $60000 loss on disposal. Using the allowance method, the uncollectible accounts for the year is estimated to be $58600. If the balance for the Allowance for Doubtful Accounts is a $9400 debit before adjustment, what is the amount of bad debt expense for the period? $9400 $49200 $58600 $68000