During its first year of operations, Spring Garden Plans earned net credit sales of $359,000. Industry experience suggests that bad debts will amount to 2% of net credit sales. At December 31,2024 , accounts receivable total $38,000. The company uses the allowance method to account for uncollectibles. equirements. Requirements 1. Journalize Spring's Bad Debts Expense using the percent-of-sales method. 2. Show how to report accounts receivable on the balance sheet at December 31, 2024