The following selected list of accounts with their normal balances was taken from the general ledger of Wallace Company as of December 31, 2016: Common stock, $1 par Wallace $ 380,000 Retained earnings 262,000 Paid-in capital in excess of par - preferred 70,000 Treasury Stock 330,000 Preferred stock, $100 par 600,000 Paid-in capital in excess of par -common 760,000 Given above information, at the end of 2016:

The following information is from the 2019 records of albert book shop: accounts receivable, december 31, 2019 $ 42 comma 000 (debit) allowance for bad debts, december 31, 2019 prior to adjustment 2 comma 000 (debit) net credit sales for 2019 179 comma 000 accounts written off as uncollectible during 2017 15 comma 000 cash sales during 2019 28 comma 500 bad debts expense is estimated by the method. management estimates that $ 5 comma 300 of accounts receivable will be uncollectible. calculate the amount of bad debts expense for 2019.