Waterway Ltd. has prepared the following aging schedule for the company at December 31, 2017. The company uses the percentage of receivables approach to estimate uncollectible accounts. Number of Days Outstanding Total 0-30 31-60 61-90 91-120 Over 120 $381000 $220500 $84000 $45000 $9500 $22000 2% 5% 9% 1795 30% Accounts receivable % uncollectible Estimated uncollectible accounts $20875 $4410 $4200 $4050 $1615 $6600 Assume that the company has a $1000 debit balance in the allowance account before any adjustment for the current year's bad debt expense. The entry to record uncollectible accounts will include a debit to Bad Debt Expense for $20875 O credit to Bad Debt Expense for $21875, O debit to the Allowance account for $20875. O credit to the Allowance account for $21875