At December 31, 2024, Ivanhoe Industries reports the following selected accounts from the unadjusted trial balance for its first year of operations: Account Accounts payable Accounts receivable Cash Cost of goods sold Interest receivable Interest revenue Merchandise inventory Notes receivable, due April 10, 2025 Prepaid insurance Sales Sales returns and allowances Short-term investments Unearned revenue Debit $560,000 $2,000 1,400,000 900 260,000 36,000 6,400 80,000 40,000 Credit $280,000 1,800 4,896,000 20,000 [11

At December 31,2024, Ivanhoe industries reports the following selected accounts from the unadjusted trial balance for its frrst year of operations: 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.)