During its first year of operations, Bright Lights Company earned net credit sales of $306,400. Industry experience suggests that bad debts will amount to 3% of net credit sales. At December 31,2019 , accounts receivable totaled $43,300. The company uses the allowance method to account for uncollectibles. Journalize Bright Lights Bad Debts Expense using the percent-of-sales method. Show how to report accounts receivable on the balance sheet at December 31, 2019