Seven Company had a balance of $30,000 in allowance for uncollectible accounts as of December 31, 2017. The company had credit sales of $750,000 and wrote off $12,000 of accounts receivable as uncollectible during 2018, Management estimates that 3% of credit sales will be uncollectible or that 20% of the December 31, 2018 accounts receivable balance of $125,000 will be uncollectible. Determine the bad debt expense for 2018 assuming Seven Company uses the balance sheet approach to account for uncollectible accounts