Blossom Company has accounts receivable of $160,700 at March 31. An analysis of the accounts shows the following Month of Sale March February January Prior to January Balance, March 31 $97,600 34,680 17.900 10,520 $160,700 Credit terms are 2/10,n/30. At March 31. Allowance for Doubtful Accounts has a credit balance of $1.990 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts, Blossom estimates that 8% of accounts receivable will become uncollectible. The company is considering using the estimate of bad debts shown below. Age of Accounts 1-30 days 31-60 days 61-90 days Over 90 days Estimated Percentage Uncollectible 2.0% 5.0% 30.0% 50.0% Prepare the adjusting entry at March 31 to record bad debt expense, assuming that the 8% estimate is used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Bad Debt Expense Debit Credit Mar. 31 Allowance for Doubtful Accounts