The following selected amounts are reported on the year-end trial balance report for a company that uses the percent of sales method to determine its bad debts expense. All sales are made on credit. Based on past experience, the company estimates 2.0% of credit sales to be uncollectible. What adjusting entry should the company make the end of the current year to record its estimated bad debts expense? Debit Bad Debts Expense $44, 600, credit Allowance for Doubtful Accounts $44, 600 Debit Bad Debts Expense $10, 020, credit Allowance for Doubtful Account $10, 020 Debit Bad Debts Expense $8, 640, credit Allowance for Doubtful Account $8, 640 Debit Bad Debts Expense $45, , credit Allowance for Doubtful Account $45, Debit Bad Debts Expense $43, 220, credit Allowance for Doubtful Account $43, 220