Star Company uses the aging of accounts receivables method to estimate bad debts. The company has prepared the following aging schedule of its accounts receivables. Age Accounts Receivable Percent Uncollectible 0-30 days $120,000 3% 31 - 60 days $40,000 10% >60 days $26,000 20% The Allowance for Doubtful Accounts account had a balance of $4,600 before any adjusting entry is made. What amount of bad debt expense will the company record this year