At the start of the year, a company's Allowance for Doubtful Accounts had a credit balance of $31,000. During the year, it had credit sales of $2,300,000. It also wrote-off $80,000 of uncollectible accounts receivable during the year. Past experience indicates that the allowance should be 6% of the balance in receivables. If the accounts receivable balance at December 31 was $300,000, what is the bad debt expense for the year? $100,000 O $138,000 $67,000 $18,000 $31,000