Computer equipment was acquired at the beginning of the year at a cost of $53,656 that has an estimated residual value of $2,273 and an estimated useful life of 7 years. Determine the second-year depreciation using the straight-line method. Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $262,000 and credit sales are $1,000,000. An aging of accounts receivable shows that approximately 5% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if Allowance for Doubtful Accounts has a credit balance of $1,000 before adjustment