Knowledge Check 01 Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtful Accounts. The company's aging of accounts receivable determined $12,000 to be uncollectible. Prepare the end-of-period adjusting entry to record bad debt expense, (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)