During its fint year of operations, Whippersnapper Fun foom earned net credit sales of $315,000. Industy experience sugpests that bad dabls will amount to 3% of not credit sales. At December 31, 2024, acoounts receiveble lotal 538,000 . The compary uses the alowance method to account for uncollectibles. Reed the requirements. Requirement 1. Joumalize Whippersnapper's Bad Debls Expense using the percontol-salos metod. (Recond debits first, then credts. Select the explanation on the last line of the joumal entry table.) Requirements 1. Journalize Whippersnspper's Had Debis Expense using the percent-of-sales methed. 2. Show how to report accounts receivable on the balance sheet at December 31,2024