The company has historically reported bad debt expense of 1% of sales in each quarter. For the current year, the company followed the same procedure in the first three quarters of the year. However, in the fourth quarter, the company, in consultation with its auditor, determined that bad debt expense for the year should be $140. Sales in each quarter of the year were as follows: first quarter, $1,000; second quarter, $800; third quarter, $1,100; fourth quarter, $1,500. Make the adjusting journal entry necessary to record bad debt expense in the fourth quarter.