A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable $ 361,000 debit Allowance for uncollectible accounts 560 debit Net Sales 806,000 credit All sales are made on credit. Based on past experience, the company estimates 0.4% of net credit sales to be uncollectible. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense