The following selected amounts are reported on the year$-$end unadjusted trial balance report for a company that uses the percent of sales method to determine its bad debts expense.

Accounts Receivable $ $435,000$ Debit

Net Sales $2,100,000$ Credit

All sales are made on credit. Based on past experience, the company estimates $1\%$ of sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?