At December 31, 2017, Duffy Dog Imports Inc. reported this information on its balance sheet $633,000 Accounts receivable 42,000 Less: Allowance for doubtful accounts During 2018, the company had the following summary transactions related to receivables and sales. Duffy Dog uses the perpetual inventorysystem. Sales on account amounted to $2,485,000. The cost of the inventory sold was $2,261,350. 1 Sales returns and allowances with a total sales price of $42,000 and a cost of $38,220 were restored to inventory. 2. Collections of accounts receivable were $2,165,000. 3. Write-offs of accounts receivable deemed uncollectible, $46,600. 4 Recovery of bad debts previously written off as uncollectible, $14,400. 5. Prepare the journal entry to record bad debts expense for 2018, assuming that aging the accounts receivable indicates that estimated uncollectible accounts receivable are $50,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit