Haven Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $600,000 and credit sales are $2,700,000. Management estimates that 4% of accounts receivable will be uncollectible. What adjusting entry will Haven Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $5,000 credit balance before adjustment? 
Definitions:
Lions
Large carnivorous mammals of the Felidae family, known for their social structure, with populations primarily in Africa but also in parts of Asia.
Tigers
Tigers are large feline predators known for their distinctive orange and black stripes, native to various ecosystems in Asia and critically endangered in the wild.
Dolphins
Dolphins are highly intelligent marine mammals known for their playful behavior, agility, and complex social structures. They belong to the family Delphinidae.
Biodiversity Hotspots
Regions with a significant reservoir of biodiversity that are under threat from human activities, considered critical for conservation efforts.
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