1. Journalize Spring's Bad Debts Expense using the percent-of-sales method

2. Show how to report accounts receivable on the balance sheet at December 31, 20 2024

During its first year of operations. Spring Garden Plans earned net credit sales of $336,000 Industry experience suggests that bad debts will amount to 3% of net credit sales At December 31, 2024 accounts receivable total 543,000. The company uses the allowance method to account for uncollectibles Read the requirements Requirement 1. Journalize Spring's Bad Debts Expense using the percent of sales method (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit Dec Date Credit 31 Requirement 2. Show how to report accounts receivable on the balance sheet at December 31, 2024 Balance Sheet (Partial): Current Assets