Vaughn, Inc. had net sales in 2020 of $1,504,000. At December 31, 2020, before adjusting entries, the balances in selected accounts were Accounts Receivable $348,600 debit, and Allowance for Doubtful Accounts $3,350 credit. If Vaughn estimates that 8% of its receivables will prove to be uncollectible.

Prepare the December 31, 2020, journal entry to record bad debt expense. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Date

Account Titles and Explanation Debit Credit

Dec. 31, 2020

enter an account title to record bad debt expense on December 31

enter a debit amount enter a credit amount

enter an account title to record bad debt expense on December 31

enter a debit amount enter a credit amount