At December 31, ABC Company had account balances in Accounts Receivable of $311,000 and in Allowance for Uncollectible Accounts of $530 (credit) before any adjustments. An analysis of ABC Company'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

• $5,690.

• $6,750.

• $6,220.

• $6,791.