Metlock, Inc. uses the percentage-of-receivables method for recording bad debt expense. The Accounts Receivable balance is $280000 and credit sales are $1120000. Management estimates that 5% of accounts receivable will be uncollectible. What adjusting entry will Metlock, Inc. make if the Allowance for Doubtful Accounts has a credit balance of $2800 before adjustment? Bad Debt Expense 5600 5600 Allowance for Doubtful Accounts Bad Debt Expense 11200 11200 Allowance for Doubtful Accounts Bad Debt Expense 8400 Accounts Receivable 8400 Bad Debt Expense 16800 16800 Allowance for Doubtful Accounts