Problem: On December 31, 2019, Captain Morgan Company's total accounts receivable was $57,800. Captain Morgan Company uses an aging schedule to determine the required allowance for doubtful accounts. A summary of the December 31, 2019, accounts receivable aging schedule indicates $40,000 in receivables are 0 to 60 days old and the estimated uncollectible percentage of this age group is 1%; $15,000 in receivables are 61 to 90 days old and the estimated uncollectible percentage of this age group is 2%; $2,000 in receivables are 91 to 120 days old and the estimated uncollectible percentage of this age group is 20%; and $800 in receivables are over 120 days old and the estimated uncollectible percentage of this age group is 50%. The allowance for uncollectible accounts had a balance of $1,100 at January 1, 2019. During 2019, $1,200 in accounts were written off, and $500 of previously written off accounts were subsequently collected. Bad debt expense for the year ended December 31, 2019 is:
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