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The Accounts Receivable balance for Wedge, Inc. at December 31, 2023, was $27,000. During 2024, Wedge earned revenue of $462,000 on account and collected $331,000 on account. Wedge wrote off $5,500 receivables as uncollectible. Industry experience suggests that uncollectible accounts will amount to 6% of accounts receivable. Read the requirements. Requirement 1. Assume Wedge had an unadjusted $2,100 credit balance in Allowance for Bad Debts at December 31, 2024. Journalize Wedge's December 31, 2024, adjustment to record bad debts expense using the percent-of-receivables method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)