King Company uses the allowance method to account for bad debts. To estimate the amount of uncollectible accounts, King 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, $940,000. This includes $98,000 of cash sales; . Ending balance in Accounts Receivable, $119,000: Ending balance in the Allowance for Bad Debts account, $629 (debit balance). After discussions with company management, you determine that 0.5% of net credit sales is a reasonable estimate of uncollectib accounts Required: Journalize the entry to record bad debts expense for the year ended December 31 Date Account Title Debi Credit (Choose one)