Etienne Company has been in business several years. At the end of the current year, the ledger

Question:

Etienne Company has been in business several years. At the end of the current year, the ledger shows:
Accounts Receivable........ .. $ 310,000 Dr.
Sales............... 2,200,000 Cr.
Allowance for Doubtful Accounts.. 6,100 Cr.
Bad debts are estimated to be 7% of receivables. Prepare the entry to adjust the Allowance for Doubtful Accounts.