Multiple Choice Question 108 Concord Corporation uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $130000 and credit sales are $1310000. Management estimates that 5% of accounts receivable will be uncollectible. What adjusting entry will Concord Corporation make if the Allowance for Doubtful Accounts has a credit balance of $1300 before adjustment? Bad Debt Expense 6500 Accounts Receivable 6500 Bad Debt Expense 5200 Accounts Receivable 5200 Bad Debt Expense 6500 Allowance for Doubtful Accounts 6500 Bad Debt Expense 5200 Allowance for Doubtful Accounts 5200 0 O