Current Attempt in Progress

The following information is available for Bonita Industries:

	Allowance for doubtful accounts at December 31, 2019	$24000
	Credit sales during 2020	1150000
	Accounts receivable deemed worthless and written off during 2020	27500

As a result of a review and aging of accounts receivable in early January 2021, it has been determined that an allowance for doubtful accounts of $16300 is needed at December 31, 2020. What amount should Bonita record as "bad debt expense" for the year ended December 31, 2020?

$40300

$19800

$12800

$16300