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At December 31 of the current year, a company reported the following: Total sales for the current year: $960,000 includes $610,000 in cash sales Accounts

image text in transcribed At December 31 of the current year, a company reported the following: Total sales for the current year: $960,000 includes $610,000 in cash sales Accounts receivable balance at Dec. 31 , end of current year: $64,000 Allowance for Doubtful Accounts balance at January 1, beginning of current year: $4,100 credit Bad debts written off during the current year: $6,200. Prepare the necessary adjusting. journal entry to record bad debts expense assuming this company's bad debts are estimated to equal 4% of accounts receivable. Show your work for partial credit

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