At December 31, 2021. Wildhorse Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Debit Credit Accounts receivable $826,000 Accounts payable $413,000 Cash 47,200 Cost of goods sold 2,065,000 Interest receivable 1,325 Interest revenue 2,650 Merchandise inventory 383,500 Notes receivable, due April 10, 2022 53.100 Prepaid insurance 9,440 65,000 Refund liability 59,000 Short-term investments 3,091,600 Sales 118.000 Sales returns and allowances 29.500 Medovne Notes receivable, due April 10, 2022 53,100 Prepaid insurance 9,440 Refund liability 65.000 Short-term investments 59,000 Sales 3,091,600 Sales returns and allowances 118,000 Unearned revenue 29.500 Prepare the journal entry to record the bad debt expense on December 31, 2021, assuming the credit manager estimates that 4% of the accounts receivable will become uncollectible. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record estimate of uncollectible accounts.) WILDHORSE INDUSTRIES Balance Sheet (Partial) Assets Calculate the receivables turnover and collection period. (Remember that this is the end of the first year of business) (Round answers to 1 decimal place, eg. 52.7. Use 365 days for calculation.) Receivables turnover times days Average collection period