TechCom has $40,000 in outstanding accounts receivable. Past experience suggests that 5% of outstanding receivables are uncollectible. The current balance in the allowance for doubtful accounts is $2,500 debit. The required adjusting journal entry includes a debit to bad debt expense for $4,500 True False TechCom has sales of $350,000 and estimates that 0.5% of its sales are uncollectible. The amount of bad debt expense is $17,500 True False