At December $31,$ Amy Jo's Appliances had account balances in Accounts Receivable of $$301,000$ and in Allowance for Uncollectible Accounts of $$530($credit$)$ before adjustment. An analysis of Amy Jo's December $31$ accounts receivable suggests that the allowance for uncollectible accounts should be $2\%$ of accounts receivable. Bad debt expense for the year should be:

Multiple Choice

$$6,550.$

$$5,490.$

$$6,020.$

$$5,391.$