Metlock Company has accounts receivable of $125,600 at March 31. An analysis of the accounts shows the following. Month of Sale Balance, March 31 March $76.800 February 26,880 January 14,000 Prior to January 7,920 $125,600 Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,600 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. Metlock estimates that 8% of accounts receivable will become uncollectible. The company is considering using the estimate of bad debts shown below. Age of Accounts Estimated Percentage Uncollectible 1-30 days i 2.0% 31-60 days 5.0% 61-90 days 30.0% Over 90 days 50.0% Prepare the adjusting entry at March 31 to record bad debt expense, assuming the aging schedule is used. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 31