During its first year of operations, Old Tyme Furniture Restoration, Inc. had sales of $473,000, all on account. Industry experience suggests that Old Tyme's uncollectibles will amount to 3% of credit sales. At December 31, 2021, accounts receivable total $52,000. The company uses the allowance method to account for uncollectibles. 1. Make Old Tyme's journal entry for uncollectible-account expense using the percent-of-sales method. 2. Show how Old Tyme should report accounts receivable on its balance sheet at December 31, 2021. 1. Make Old Tyme's journal entry for uncollectible-account expense using the percent-of-sales method. (Record debits first, then credits. Exclude explanations from journal entries.) Date Dec 31 Journal Entry Accounts Debit Credit 2. Show how Old Tyme should report accounts receivable on its balance sheet at December 31, 2021. Less: