On December 31 of the current year, the Accounts Receivable account had a balance of $98,000 and the Allowance for Doubtful Accounts had a debit balance of $1,200, before the year end adjusting entry for uncollectible accounts was made. Credit Sales for the period are $172,000 and uncollectible accounts are estimated at 3% of Accounts Receivable. Determine Bad Debt expense. $4,140 $1,740 $2,940 $3,960