Oman Company reported the following rolvables in its December 31, 2020, year-end balance sheet: Current assets: Accounts receivable, net of $57,000 in allowance for uncollectible accounts $ 389,000 Interest receivable 22,200 Notes receivable 470,000 Additional information: The notes receivable account consists of two notes, a $120,000 note, and a $350,000 note. The $120,000 note is dated October 31, 2020, with principal and interest payable on October 31, 2021. The $350,000 note is dated March 31, 2020, with principal and 8% interest payable on March 31, 2021 . During 2021, sales revenue totalled $2,170,000, $2,030,000 cash was collected from customers, and $46,000 in accounts receivable were written off. All sales are made on a credit basis. Bad debt expense is recorded at year-end by adjusting the allowance account to an amount equal to 10% of year-end gross accounts receivable. Additional information: . . The notes receivable account consists of two notes, a $120,000 note, and a $350,000 note. The $120,000 note is dated October 31, 2020, with principal and interest payable on October 31, 2021. The $350,000 note is dated March 31, 2020, with principal and 8% interest payable on March 31, 2021. During 2021, sales revenue totalled $2,170,000, $2,030,000 cash was collected from customers, and $46,000 in accounts receivable were written off. All sales are made on a credit basis. Bad debt expense is recorded at year-end by adjusting the allowance account to an amount equal to 10% of year-end gross accounts receivable. Required: Calculate the amount of bad debt expense that will appear in the company's 2021 income statement? [ 6 Marks)