AMQ uses aging of accounting receivable method. At the end of 2012, AMQ has $50,000 accounts receivables that are between 90 and 120 days, and AMQ estimates it can collect 70% of these receivables; AMQ also has $20,000 accounts receivables that are over 120 days old, and it estimates that it can collect 60% of these receivables. AMQ has a previous credit balance of $3,000 in allowance for doubtful accounts. How much should AMQ recognize in bad debt expense at the end of 2012? $26,000 $23,000 $0 $20,000