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 (debit balance).

Required: Calculate bad debts expense for the year, if 5.0% of the accounts receivable balance is assumed to be uncollectible.