As of December 31, 2015, Gill Co. reported accounts receivable of $233,000 and an allowance for uncollectible accounts of $8,400. During 2016, accounts receivable increased by $23,700, including $7,700 in bad debts that were written off. An analysis of Gill Co.'s December 31, 2016, accounts receivable suggests that the allowance for uncollectible accounts should be 2% of accounts receivable. Bad debt expense for 2016 would be: Multiple Choice None of these answer choices are correct. $5,134. $4,434. $7,700