Al Bakara company report the following results for its calendar year December 31,2021. Cash sales Credit sales Account receivable Account payable Allowances for doubtful accounts 200,000 180,000 22,000 (debit) 46,000 (credit) 2,000 (debit) The company estimates bad debts to be 2% of annual total sale. Required: 1- Prepare the adjusting entry to record the estimated bad debt. Answer in the following format [Note: This is just an example and is not related to the question] Jan 1 Dr. Cash...................120 Cr. Owner capital 120