San Mateo Company had the following account balances at December 31, 2020, before recording bad debt expense for the year: Accounts receivable Allowance for uncollectible accounts (credit balance) Credit sales for 2020 $1,400,000 $22,000 $1,950,000 San Mateo is considering the following approaches for estimating bad debts for 2020: Based on 3% of credit sales Based on 6% of year-end accounts receivable What amount should San Mateo charge to bad debt expense at the end of 2020 under each method