Sheridan Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $594000 and credit sales are $2690000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Sheridan Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4900 credit balance before adjustment? Bad Debt Expense 18860 Accounts Receivable 18860 Bad Debt Expense 23760 Accounts Receivable 23760 Bad Debt Expense 18860 Allowance for Doubtful 18860 Accounts Bad Debt Expense Allowance for Doubtful Accounts 23760 23760