Exercise $9-17($Static$)$ Estimating bad debts LO P$3$

At December $31,$ Folgeys Coffee Company reports the following results for its calendar year.

Cash sales

$$900,000300,890$

Credit sales

$380,80$

Its year$-$end unadjusted trial balance includes the following items.

Accounts receivable

$$125,$ Be$0$ debit

Allowance for doubtful accounts

$5,000$ debit

Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be $(1)3\%$ of credit sales, $(2)1\%$ of total sales and $(3)6\%$ of year$-$end accounts receivable.