Potato Chips Co. uses the allowance method in estimating uncollectible accounts. On December 31, 2022, the balance in Accounts Receivable was $500,000. Potato Chips Co. had net sales of $12 million during 2022 and the unadjusted balance in Allowance for Doubtful Accounts is a $1,000 debit balance. Based on prior experience, Potato Chips Co. estimates 6% of accounts receivable will uncollectible. Please provide the adjusting entry to record estimated bad debts expense using the percentage of receivables basis in your paper-based submission