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

Cash sales $ $320,000$

Credit sales $ $800,000$

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

Accounts receivable $ $432,000$ debit

Allowance for doubtful accounts $ $4,300$ 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.