The December 31, 2021, balance sheet of the Marigold Corp. had Accounts Receivable of $700,000 and a credit balance in Allowance for Doubtful Accounts of $32,000. During 2022, the following transactions occurred: sales on account $1,623,000; sales returns and allowances, $109,000; collections from customers, $1,307,000; accounts written off, $35,000; previously written off accounts of $9,000 were collected. If the company uses the percentage of receivables basis to estimate bad debt expense and determines that uncollectible accounts are expected to be 8% of accounts receivable, what is the adjusting entry at December 31, 2022? (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31