At December 31,2017, Accustart Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $644,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Accustart uses the perpetual inventory system. 1. Sales on account amounted to $2,715,000. The cost of the inventory sold was $2,443,500. 2. Sales returns and allowances with a total sales price of $41,000 and a cost of $36,900were restored to inventory. 3. Collections of accounts receivable were $2,393000. 4. Write-offs of accounts receivable deemed uncollectible, $44900 5. Recovery of bad debts previously written off as uncollectible, $15,100. Prepare the journal entry to record bad debts expense for 2018, assuming that aging the accounts receivable indicates that estimated uncollectible accounts receivable are $43,000. (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 O for the amounts.) Account Titles and Explanation Debit Credit