The Accounts Receivable balance for southside Company at December 31, 2023 , was 27000 During 2024 , southside earned revenue of $461000 on account and collected $323000 on account. Southside wrote off $5400 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 3% of accounts receivable. Requirement 1. Assume had an unadjusted $2300 credit balance in Allowance for Bad Debts at 31, . Journalize 's 31, , adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)