prepared journal entry

At December 31 of the current year, a company reported the following Total credit sales for the current year: $1,500,000 Accounts receivable balance at December 31 of the current year: $125,000 Balance of Allowance for Doubtful Accounts credit balance at December 31: $3,600 Prepare the necessary adjusting entry to record bad debt expense assuming this company's bad debts are estimated to equal 5% of accounts receivable. Date Account \& Explanation Debit Credit