Class Quest Company had the following balances as at January 1, 2016: Accounts Receivable Allowance for Doubtful Accounts $32,000 Credit During the fiscal year 2016 (Jan 1 to Dec 31 2016), the company had the following transactions $600,000 Debit $7,200,000 (of which 45% represents cash sales). Total Sales Cash collected from credit customers Write-offs of uncollectible accounts $3,000,000 $22,000. Required if the company estimates that 2.80% of the Accounts Receivable Balance is uncollectible, what amount would the company record as the bad debts expense for the year