Investment banking is changing dramatically into an industry where (a)investment bankers are using larger syndicates to distribute initial public offerings. (b)investment bankers are becoming increasingly larger so that they can take on more risk and have less need for large syndicates. (c)investment bankers don't need a distribution network because most new issues are sold directly to institutional investors. (d)new investment banking firms are being established to deal with the increasing number of companies looking for capital

The following information is from the 2019 records of albert book shop: accounts receivable, december 31, 2019 $ 42 comma 000 (debit) allowance for bad debts, december 31, 2019 prior to adjustment 2 comma 000 (debit) net credit sales for 2019 179 comma 000 accounts written off as uncollectible during 2017 15 comma 000 cash sales during 2019 28 comma 500 bad debts expense is estimated by the method. management estimates that $ 5 comma 300 of accounts receivable will be uncollectible. calculate the amount of bad debts expense for 2019.