Paul Anchor, Incorporated estimated that bad debt expense would equal 4% of the ending balance of accounts receivable for the current year. This year's ending balance of accounts receivable amounted to $2,500,000. There was a $69,000 credit balance in the allowance for uncollectible accounts prior to the year-end adjustment. Prepare the adjusting journal entry to record bad debt expense for the current year. (Record debits first, then credits. Exclude explanations from any journal entries.) Account Current Year