Monroe Company had the following data for the year:

Accounts receivable, beginning of year 200,000

Allowance for bad Debt, beginning of year 40,000

Cash collected from credit customers 770,000

Credit sales for the year 823,000

Accounts receivable, end of year 240,000

Allowance for bad Debt, end of year 55,000

What was Monroe Companys BAD DEBT EXPENSE for the year?

$31,000

$32,000

$28,000

$13,000

$15,000

$20,000

$68,000