At the end of the current year, the unadjusted trial balance of Branco, Inc., indicated $5,848,000 in Accounts Receivable, a credit balance of $8,500 in Allowance for Doubtful Accounts, and Sales Revenue (all on credit) of $160,440,000. Based on knowledge that the current economy is in distress, Branco increased its bad debt rate estimate to 0.4 percent of credit sales.

Required: 1. What amount of bad debt expense should be recorded for the current year? 2. What amount will be reported on the current year's balance sheet for accounts receivable?

Bad debt expense of current year	________
Accounts receivable of current year	________