Tomm Wholesalers sells construction equipment to small home builders. The following pertains to Tomms credit and cash sales for the month of December 31, 2020. Tomm generally considers 3% of credit sales to be uncollectible and it uses the allowance method. Cash Sales $38,000 Credit Sales $275,000 Prepare the appropriate bad debt journal entry for the month of December. Do not prepare any other journal entries for this problem.