Question 4 (10 points) Silicon Chips uses the allowance method in estimating uncollectible accounts. On December 31, 2022, the balance in Accounts Receivable was $700,000. Silicon Chips had net sales of $12 million during 2022 and the unadjusted balance in Allowance for Doubtful Accounts is a $2.000 debit balance. Based on prior experience, Silicon Chips estimates 3% of accounts receivable will uncollectible. Please provide the adjusting entry to record estimated bad debts expense using the percentage of receivables basis in your paper-based submission