Waterway Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $615000 and credit sales are $2710000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Waterway Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $4900 credit balance before adjustment? 24600 Bad Debt Expense Allowance for Doubtful Accounts 24600 19700 Bad Debt Expense Allowance for Doubtful Accounts 19700 19700 Bad Debt Expense Accounts Receivable 19700 24600 Bad Debt Expense Accounts Receivable 24600