A company's Accounts Receivable balance on December 31, 2017 was $28,000. During 2018, the company had $455,000 of sales on account, collected $321,000 on account, and wrote off $5,500 receivables as uncollectible. At the end of the year, the company estimated that 6% of accounts receivable won't be collected. Assume that before adjustment at the end of the year, the balance [normal] in Allowance for Bad Debts was $2,100. Prepare the adjusting entry. (Select the explanation on the last line of the entry table.) Date Accounts and Explanation Debit Credit Dec. 31 bad debt expense (1790) allowance for bad debts 1790 Recorded bad debts expense for the period