1.XYZ Corporation had a 1/1/15 balance in the Allowance for Doubtful Accounts of $10,000. During 2015, it wrote off $7,200 of accounts and collected $2,100 on accounts previously written off. The balance in Accounts Receivable was $200,000 at 1/1 and $240,000 at 12/31. At 12/31/15, Smithson estimates that 5% of accounts receivable will prove to be uncollectible. What is Bad Debt Expense for 2015? (2 Points)