During its first year of operations, Spring Garden Plans earned net credit sales of $320,000. Industry experience suggests that bad debts will amount to 2% of net credit sales. At December 31, 2024, accounts receivable total $43,000. The company uses the allowance method to account for uncollectibles. Read the requirements. Requirement 1. Journalize Spring's Bad Debts Expense using the percent-of-sales method. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31