Calculate The amount of the year end adjusting entry for bad debts expense. Bad debt expense is estimated to be 3% of credit sales for the year.

Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the company's fiscal year-end balance sheet disclosed the following . The 2016 Current Assets: Receivables (net of allowance for uncollectible accounts of $36373) $414885 During 2017, credit sales were $1622589, cash collections from customers $1890832, and $26591 in accounts receivable were written off. In addition, $2711 was collected from a customer whose account was written off in 2016. An aging of accounts receivable at December 31, 2017, reveals the following: Age Group % of year-end AR in Group % Uncollectible 0-60 days 61-90 days 90 -120 days Over 120 days 65% 20% 10% 5% 4% 15% 25% 40% Required: Calculate the amount of the year-end adjusting entry for bad debts expense. Bad debt expense is estimated to be 3% of credit sales for the year. Answer in dollars and cents ($ 0.00 )