Prepare the journal entry to record bad debt expense for 2025, assuming that aging the accounts receivable indicates that estimated bad debts are $49,000. (List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Enter the January 1, 2025, balances in Accounts Receivable and Allowance for Doubtful Accounts, post the entries to the two accounts and determine the balances. (Post entries in the order of journal entries presented in the previous part.) Bal. (1) (5) Bal. (4) > > Accounts Receivable 633000 (2) 2950000 (3) 16000 (4) > 837000 (5) Allowance for Doubtful Accounts 44000 Bal. (5) 52000 2650000 44000 16000 41000 16000 Bal. 13000 Bal. 13000 At December 31, 2024, Pharoah Imports reported this information on its balance sheet. Accounts receivable $633,000 Less: Allowance for doubtful accounts 41,000 During 2025, the company had the following transactions related to receivables. 1. Sales on account $2,950,000 2. Sales returns and allowances 52,000 3. Collections of accounts receivable 2,650,000 4. Write-offs of accounts receivable deemed uncollectible 44,000 5. Recovery of bad debts previously written off as uncollectible 16,000