Nieto Co. elects to use the percentage-of-sales basis in 2011 to record bad debts expense. It estimates that 2% of net credit sales will become uncollectible. Sales are $800,000 for 2011, sales returns and allowances are $45,000, and the allowance for doubtful accounts has a credit balance of $9,000. Prepare the adjusting entry to record bad debts expense in 2011.