ABC Company has Accounts Receivable at the beginning of the year amounting to P678,000. During the year, service revenues amounted to P580,000, of which 120,000 is rendered for cash; collections were P115,000; accounts written-off were P43,000 and out of these, P15,000 were recovered. Service discounts amounted to P24,000. As a policy, 5% of the accounts receivable is estimated to be uncollectible. How much is the Bad Debts Expense at the end of the reporting period?