MH Corp. (MHC) estimates its allowance for doubtful accounts using the balance sheet approach. The following information is available for MHCs year ended December 31, 2019: Allowance for doubtful accounts Allowance for doubtful accounts, December 31, 2018 (credit) $157,500 Accounts written off during 2019 175,000 Account recoveries during 2019 3,500 Accounts receivable 0-30 days (98% expected recovery) $ 653,000 31-60 days (85% expected recovery) 340,000 61-90 days (60% expected recovery) 145,000 91+ days (30% expected recovery) 67,000 Accounts receivable balance, December 31, 2019 = $1,205,000 Required: Calculate MHCs bad debt expense for the year ended December 31, 2019