PB8-1 Recording Accounts Receivable Transactions Using the Allowance Method [LO 8-2 Chipman software recently reported the following amounts in its unadjusted trial balance at its year-end Debits Credits $ 3,600 Accounts Receivable Allowance for Doubtful Accounts Sales (assume all on credit) $ 46 50,000 Required: 182. Prepare the adjusting journal entry required for the year. ( no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to nearest whole dollar amount. (i) Assume Chipman uses 1/4 of 1 percent of sales to estimate its Bad Debt Expense for the year. (ii) Assume instead that Chipman uses the aging of accounts receivable method and estimates that $86 of its Accounts Receivable will be uncollectible