On January 1, 2022 Pink Philippines Co. had a balance in the Allowance for Doubtful Accounts of P10,000. During 2022, it wrote off P7,200 of accounts and collected P2,100 on accounts previously written off. The balance in Accounts Receivable was P200,000 at January 1 and P240,000 at December 31. At December 31, 2022, Pink Philippines estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2022?

		P2,000.
		P7,100.
		P9,200.
		P12,000.