The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts expense reports the following selected amounts:

Accounts Receivable $ 434,000 Debit

Allowance for Doubtful Accounts 1,360 Debit

Net Sales 2,210,000 Credit

All sales are made on credit. Based on past experience, the company estimates 2.0% of ending accounts receivable to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense?