The following information is related to December 31, 2013 balances.

Accounts receivable $700,000

Allowance for doubtful accounts (credit) (60,000)

Cash realizable value 640,000

During 2014 sales on account were $195,000 and collections on account were $115,000. Also, during 2014 the company wrote off $11,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $72,000. Bad debt expense for 2014 is