The following information is for WATCHOUT Company. Accounts Receivable, January 1st $ 75,000 Allowance for Doubtful Accounts, January 1st $ 8,000 Credit Sales during the year $ 600,000 Credit Sales Returns during the year $ 25,000 Accounts written off during the year $ 3,000 WATCHOUT estimates that uncollectible accounts will total 3% of accounts receivable. What is the adjusting entry WATCHOUT will make for uncollectible accounts?