What is the correct journal entry for Novak Corp. when Pina Corp. is unable to pay its $92,400 account payable on September 30, 2023, due to cash flow problems?
A) Debit Accounts Receivable; Credit Cash
B) Debit Bad Debt Expense; Credit Accounts Payable
C) Debit Accounts Payable; Credit Bad Debt Expense
D) Debit Bad Debt Expense; Credit Accounts Receivable