As of January 1, 2021. Barley Co. had a credit balance of $525,000 in its allowance for uncollectible accounts. Based on experience, 3% of Barley's gross accounts receivable have been uncollectible. During 2021. Barley wrote off $655,000 of accounts receivable. Barley's gross accounts receivable as December 31, 2021 is $18,250,000. Help Save & Exit Submit How much bad debt expense should Barley record for 2021? Multiple Choice $417,500 $677,500. $547,500. $1,072,500