At December $31,$ Hawke Company reports the following results for its calendar year.

Cash sales $ $480,000$

Credit sales $ $1,200,000$

In addition, its unadjusted trial balance includes the following items.

Accounts receivable $ $648,000$ debit

Allowance for doubtful accounts $ $6,500$ debit

$2.$ Bad debts are estimated to be $3\%$ of credit sales. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December $31$ balance sheet.