A company used the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable $ 440,000 Debit Allowance for Doubtful Accounts 1.300 Debit 2,150,000 Credit Net Sales All sales are made on credit. Based on past experience, the company estimates 3.0% of its net sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense