Concord Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $593000 and credit sales are $2680000. Management estimates that 4% is the sales percentage to use. What adjusting entry will Concord Company make to record the bad debts expense? 130920 Bad Debt Expense Accounts Receivable 130920 107200 Bad Debt Expense Accounts Recelvable 107200 130920 Bad Debt Expense Allowance for Doubtful Accounts 130920 Bad Debt Expense Allowance for Doubtful Accounts 107200 107200