During its first year of operations, Whippersnapper Fun Room earned net credit sales of $384,000. 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. Read the requirements Requirement 1. Journalize Whippersnapper'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.) Dec. Date 31 Accounts and Explanation Debit Credit 50 anged ach add mg this now bad Requirement 2. Show how to report accounts receivable on the balance sheet at December 31, 2024 Balance Sheet (Partial): bel and s Current Assets: wing my average