ABE9-7 Linhart Co. uses the percentage-of-accounts receivable basis to record bad debts expense. It estimates that 2% of accounts receivable will become uncollectible. Accounts receivable are $459,500 at the end of the year, and the allowance for doubtful accounts has a credit balance of $1,652. Prepare the adjusting journal entry to record bad debts expense for the year. Description/Account Debit Credit