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Timmons Company Had a January 1 Credit Balance in Its

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Timmons Company had a January 1 credit balance in its Allowance for Doubtful Accounts of $7,000 for the current year.The following transactions and events affected the Allowance for Doubtful Accounts during the current year:
 Apr. 15  Bard’s account receivable of $5,700 was deemed uncollectible.  July 1  Drake paid the full amount of a previously written-off account receivable. This  receivable of $2,300 had been written off in the prior year.  Dec. 31  Bad debts expense of $7,500 was recorded. \begin{array}{|l|l|}\hline\text { Apr. 15 } & \text { Bard's account receivable of } \$ 5,700 \text { was deemed uncollectible. } \\\hline \text { July 1 } & \begin{array}{l}\text { Drake paid the full amount of a previously written-off account receivable. This } \\\text { receivable of } \$ 2,300 \text { had been written off in the prior year. }\end{array} \\\hline \text { Dec. 31 } & \text { Bad debts expense of } \$ 7,500 \text { was recorded. }\\\hline\end{array}
What amount should appear in the allowance for doubtful accounts in the December 31 balance sheet for the current year?

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$7,000 - $...

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