Monty, Inc. had net sales in 2020 of $1,476,600. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Recelvable $386,600 debit, and Allowance for Doubtful Accounts $3,080 credit. If Monty estimates that 6% of its receivables will prove to be uncollectible. Prepare the December 31, 2020, Journal entry to record bad debt expense. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not Indent manually)