Molina Company had a $700 credit balance in Allowance for Doubtful Accounts at December 31, 2021, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following: Estimated Percentage Uncollectible Current Accounts $120,000 1 % 1-30 days past due 20,000 3 % 31-60 days past due 10,000 6 % 61-90 days past due 10,000 12 % Over 90 days past due 8,000 30 % Total Accounts Receivable $168,000 Prepare the adjusting entry on December 31, 2021, to recognize bad debt expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit