The Accounts Receivable balance for Wedge Company at December $31,2015,$ was $$26,000.$ During $2016,$ Wedge earned revenue of $$459,000$ on account and collected $$322,000$ on account. Wedge wrote off $$5,700$ receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to $2\%$ of accounts receivable.

Read the requirements.

Requirement $1.$ Assume Wedge had an unadjusted $$2,400$ credit balance in Allowance for Bad Debts at December $31,2016.$ Journalize Wedge's December $31,2016,$ 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.$)$

$\backslash$table$[[$Da$,,$Accounts and Explanation,Debit,Credit$],[$Dec$.31],[,,,,],[,,,,],[,,,,],[,,,,]]$