58-6 (similar to) Question Help During its first year of operations, Whippersnapper Fun Room earned net credit sales of $317,000. Industry experience suggests that bad debts will amount to 1% of net credit sales. At December 31, 2018, accounts receivable total $37,000. The company uses the allowance method to account for uncollectibles. Read the requirements Requirement 1. Journalize Whippersnapper'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.) Date Accounts and Explanation Debit Credit Dec. i Requirements 1. Journalize Whippersnapper's Bad Debts Expense using the percent-of-sales method. 2. Show how to report accounts receivable on the balance sheet at December 31, 2018 Print Done