During Year 1, Nana Department Store had total sales of $3,000,000, of which 80% were on credit. The beginning balance in Accounts Receivable (on January 1 of Year 1) was $165,000. The beginning balance in the Allowance for Doubtful Accounts (on January 1 of Year 1) was $20,000. The amount of accounts written off as uncollectible during the year was $27,000. The following aging of Accounts Receivable is for Nana Company at the end of Year 1. Aging of Accounts Receivable December 31 of Year 1 Total Overall $492,000 $492.00 Less than 30 days $366,000 Sobole 31 days to 60 days $72,000 61 days to 90 days $24,000 Over 90 days $30,000 Total Nana Company has developed the following bad debt information from its own past experience. Percent Ultimately Age of Account Uncollectible Less than 30 days 31 to 60 days 61 to 90 days Over 90 days 12 Nana Company uses the aging method to determine its ending Allowance for Doubtful Accounts balance. Which ONE of the following is included in the journal entry necessary at the end of the year to record bad debt expense for the year? CREDIT to Allowance for Doubtful Accounts for $58,600 DEBIT to Bad Debt Expense for $51,360 CREDIT to Allowance for Doubtful Accounts for $58,360 DEBIT to Bad Debt Expense for $51,600 CREDIT to Allowance for Doubtful Accounts for $51,600 DEBIT to Accounts Receivable for $58,360