The correct entry to write off a $400 receivable owed by Ajax Co. using the Direct Write-Off Method would be: A)Debit Allowance for Doubtful Accounts and credit Bad Debt Expense for $400. B)Debit Bad Debt Expense and credit Accounts Receivable-Ajax for $400. C)Debit Accounts Receivable-Ajax and credit Allowance for Doubtful Accounts for $400. D)Debit Allowance for Doubtful Accounts & credit Bad Debt Expense for $400.