On December 31, of the current year, Nice Company's unadjusted trial balance revealed the following: Accounts receivable of $277.300; Sales Revenue of $2,580,000: (70% were on credit), and Allowance for Doubtful Accounts of $3,100 (credit balance). Required: Calculate bad debts expense for the year. If 4.0% of the accounts receivable balance is assumed to be uncollectible