Looney Corp. has debit balances of $598,000 and $8,000 in accounts receivable and allowance for uncollectible accounts, respectively, and $0 bad debt expense before year end adjustment.

$347,000 of Looney's receivables are current, and Looney believes them to be 97% collectible.

$129,000 of Looney's receivables are 1-60 days past due, and Looney believes them to be 80% collectible.

The remainder of Looney's receivables are over 60 days past due, and Looney believes them to be 56% collectible.

What is Looney's bad debt expense for the year?