Kraft Foods Inc. is the second-largest food and beverage company in the world. Assume the company recently reported the following amounts in its unadjusted trial balance as of December 31, 2010 (all amounts in millions):

	Debits		Credits
Accounts Receivable	$	6,705
Allowance for Doubtful Accounts			$	113
Sales (assume all on credit)				48,407

Required:

1.

Assume Kraft uses 1/2 of 1 percent of sales to estimate its Bad Debt Expense for the year. Prepare the adjusting journal entry required for the year, assuming no Bad Debt Expense has been recorded yet. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Round your answers to the nearest whole number.)

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