At December 31, 2024, Crane Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Debit Accounts payable Credit $343,000 Accounts receivable Cash $686,000 39,200 Cost of goods sold 1,715,000 Interest receivable 1,100 Interest revenue 2,200 Merchandise inventory 318,500 Notes receivable, due April 10, 2025 44,100 Prepaid insurance 7,840 Sales 3,596,600 Sales returns and allowances Short-term investments Unearned revenue 98,000 49,000 24,500 (a) Prepare the journal entry to record the bad debt expense on December 31, 2024, 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 O for the amounts. List debit entry before credit entry.) Date Dec. 31 Account Titles Debit Credit