Multiple Choice Question 84 Sheridan Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $594000 and credit sales are $2690000. Management estimates that 4% is the sales percentage to use. What adjusting entry will Sheridan Company make to record the bad debts expense? Bad Debt Expense 23760 Accounts Receivable 23760 Bad Debt Expense 23760 Bad Debt Expense 107600 Bad Debt Expense 107600 Allowance for Doubtful Accounts 23760 Allowance for Doubtful Accounts 107600 Accounts Receivable 107600