Cheyenne Company has been in business several years. At the end of the current year, the ledger shows the following:

Accounts Receivable		$ 313,200 Dr.
Sales Revenue		2,642,600 Cr.
Allowance for Doubtful Accounts		5,600 Cr.

Bad debts are estimated to be 9% of accounts receivables. Prepare the entry to adjust Allowance for Doubtful Accounts. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit