Kelly Company uses the allowance method to account for bad debts. To estimate the amount of uncollectible accounts, Kelly Company uses the percentage of sales method. A review of the end of the year accounting information finds the following: - Net sales for the year, $826,000. This includes $97,000 of cash sales; - Ending balance in Accounts Receivable, $95,000; - Ending balance in Allowance for Uncollectible Accounts, \$1,094 (credit balance). After discussions with company management, you determine that 0.5% of net credit sales is a reasonable estimate of uncollectible accounts. Required: Journalize the entry to record bad debts expense for the year ended December 31