During its first year of operations, Natural Life Inc. had sales of $1,040,000, all on account. Industry experience suggests that Natural Life's bad debt expense will be $20,800. At December 31, 2019, Natural Life's accounts receivable total $60,000. The company uses the allowance method to account for uncollectibles. Requirements 1. Make Natural Life's journal entry for bad debt expense. 2. Show how Natural Life could report accounts receivable on its balance sheet at December 31, 2019, by disclosing the allowance for uncollectible accounts. 1. Make Natural Life's journal entry for bad debt expense. (Record debits first, then credits. Explanations are not required.) Journal Entry Accounts Debit Credit 2. Show how Natural Life could report accounts receivable on its balance sheet at December 31, 2019, by disclosing the allowance for uncollectible accounts. (Use parentheses or a minus sign to indicate numbers to be subtracted.) Balance Sheet