Computing Bad Debt Expense from Transaction Data Modern Oil estimates uncollectible accounts using the allowance method. The following pertains to its year 2020. Allowance for Doubtful Accounts, December 31, 2019, balance: $508,000 credit Allowance for Doubtful Accounts, December 31, 2020, balance: $491,000 credit Accounts formally authorized to be written off in 2020: $88,000 Unexpected collection of accounts receivable on accounts written off in 2020: $5,000 Compute bad debt expense in 2020 for this company