As of December 31, 2015, Gill Co. reported accounts receivable of $233,000 and an allowance for uncollectible accounts of $9, 300. During 2016, accounts receivable increased by $22, 200, including $7, 250 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 3% of accounts receivable. Bad debt expense for 2016 would be: None of these answer choices are correct. $5, 606. $7, 250. $7, 656