The following information is available for Murphy Company: Allowance for doubtful accounts at December 31, 2016 $27,000 Credit sales during 2017 1,200,000

Accounts receivable deemed worthless and written off during 2017 24,000

As a result of a review and aging of accounts receivable in early January 2018, it has been determined that an allowance for doubtful accounts of $26,000 is needed at December 31, 2017. What amount should Murphy record as "bad debt expense" for the year ended December 31, 2017?