Chipman software recently reported the following amounts in its unadjusted trial balance at its year-end: Debits Credits Accounts Receivable Allowance for Doubtful Accounts $ 2,500 $ 24 39,000 Sales (assume all on credit) Required: 182. Prepare the adjusting journal entry required for the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to nearest whole dollar amount.) (1) Assume Chipman uses 3/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. (i) Assume instead that Chipman uses the aging of accounts receivable method and estimates that $75 of its Accounts Receivable will be uncollectible.