Jefferson uses the percent of sales method of estimating uncollectible expenses. Based on past history, 2% of credit sales are expected to be uncollectible. Sales for the current year are $5,550,000. Which of the following is correct regarding the entry to record estimated uncollectible receivables? Bad Debt Expense will be credited OAccounts Receivable will be debited O Cash will be debited Allowance for Doubtful Accounts will be credited