During its fint year of operations, Fall Wine Tour eaimed net credt sales of $308,000. Industry experience suggests that bad debts will amount to 2 W of net crect sales. At December 31, 2016 , accounts receivable total $40,000. The company uses the wlowance method to account for uncolecsibles: Roquirements 1. Joumalize Falrs Bod Dobts Expense uning the percont-ol-sales method. 2. Show how to report accounts receivible on the balance sheet at December 31,2016