Kraft Foods Inc. is the second-largest food company in the world. Assume the company recently reported the following amounts in its unadjusted trial balance (in Millions) as of December 31, 2017: Debits $5,680 Credits Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $ 135 45,45 Required: 1. Assume Kraft uses 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 rounded to the nearest whole dollar number.) View transaction list Journal entry worksheet