The Cardiff Company uses the aging approach to estimate bad debt expense. The balance of the Accounts Receivable is aged on the basis of four time periods with the respective amounts, as follows: (1) Not Yet Due $ 450,000 (2) 1 to 60 Days Past Due $ 235,500 (3) 61 to 120 Days Past Due $ 72,250 (4) More than 120 Days Past Due $ 6,000 Experience has shown the average loss rate due to uncollectibility by aging is, respectively, (1) 1 percent (2) 4.5 percent (3) 15 percent and (4) 50 percent. At December 31, 2020 (end of the current year), the Allowance for Bad Debts had a $800 credit balance before the end-of-period adjusting entry. Bad Debt Expense for the year is: $28,935 $28,135 $28,735 $29,735