Ivanhoe Co$.$ uses the percentage of sales approach to record bad debt expense. It estimates that $1\mathrm{.}5\%$ of net credit sales will become uncollectible. Credit sales are $$773,000$ for the year ended April $30,2024,$ sales returns and allowances are $$61,000$; sales discounts are $$16,000$; accounts receivable are $$248,000$; and the allowance for doubtful accounts has a credit balance of $$4,800.$

$($a$)$

Prepare the adjusting entry to record bad debt expense in $2024.($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry$)$

Date

Account Titles

Debit

Credit

Apr. $30$