The schedule of aging accounts for a company at the end of the year 2020, appears below: Current 130 days overdue 31.o days overdue More than 60 days overdue Total Accounts Receivable $20,000 5,000 4,000 2.500 31500 Estimate of Bad Debts 1% 5% 10% 20% The allowance was estimated by using the schedule of ageing accounts. The allowance account had a debit balance of $400, before the estimate was made Required: Prepare the adjusting entry to record bad debts expense for 2020 (OHOW YOUR CALCULATIONS)