In 2019, ABC Co began operations and sold $100 software licenses to 100 customers. Sales were made with 90 day credit terms. ABC estimates that six customers would not pay the amount owed and established the appropriate allowance. Therefore, ABC Co. ended 2019 with $600 in their allowance for doubtful accounts. During 2020, ABC gave up on collecting from 8 customers they sold to in 2019 (so they wrote off the receivables). They also sold $100 software licenses to another 125 customers. As of year end, ABC believes 5 of the 2020 customers who they have not yet collected from will not pay the amount owed. Prepare the required adjusting journal entry for uncollectible accounts for the end of 2020.