Toad LLG had the following information for 2022: - At the beginning of the year, the balance in Allowance for Doubtful Accounts was $33,400. - During the year, the cormpany had credit sales of $290,000. On Decermber 31, the balance iri gross Accounts Aeceivable is $720,000. At the end of the year. Toad estimates that 5% of outstanding accounts receivables are uncollectible. How much bad debt expense does the company recognize for 2022 using the percentage-of-receivables method