Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $154,000 Credit sales, $454,000 Selling and administrative expenses, $114,000 Sales returns and allowances, $34,000 Gross profit, $494,000 Accounts receivable, $145,000 Sales discounts, $18,000 Allowance for doubtful accounts credit balance, $1,600 Flyer prepares an aging of accounts receivable and the result shows that 3% of accounts receivable is estimated to be uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded