Michael Anchor, Incorporated estimated that bad debt expense would equal 5% of the ending balance of accounts recaivable for the current year. This year's ending balance of accounts recelvable amounted to $2,494,000. There was a $68,000 debit balance in the allowance for uncollectible accounts prior to the year-end adjustment. Prepare the adjusting journal entry to record the bad debt provision for the current year,(Record debits first, then credits. Exclude explanations from any joumal entries.)