Prepare the Adjusting Journal Entry for Bad Debts Expense from the Following

Prepare the adjusting journal entry for Bad Debts Expense from the following information using the balance sheet approach.
$\begin{array}{llcc} \text { Net Sales for the year} &\$250,000 \\ \text {Balance in the allowance account } &250 \text {credit}\\ \text {Estimated percentage of sales uncollectible } &1\%\\ \text { Estimated uncollectible accounts-aging } &\$3,000\\\end{array}$

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