Question: On January 1 , 2 0 2 2 , the balance in Kubera Company's Allowance for Bad Debts account was $ 1 , 4 4

On January $1, 2022,$ the balance in Kubera Company's Allowance for Bad Debts account was $ $1, 440 .$ During the year, a total of $ $3, 675$ of delinquent accounts receivable was written off as bad debts. The unadjusted balance in the Allowance for Bad Debts account at December $31, 2022,$ was $ $1, 500 .$

Required:

What was the total amount of bad debts expense recognized during the year? $($ Hint: Make a T $-$ account for the Allowance for Bad Debts account. $)$

As a result of a comprehensive analysis, it is determined that the December $31, 2022,$ adjusted balance of Allowance for Bad Debts should be $ $4, 340 .$ Show the adjustment required in journal entry format.

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