During its first year of operations, World Class Sport Shce Inc. had sales of $1,080,000, all on account. Industry experience suggests that World Class Sport Shoe's bad debt expense will be $24,840. On December 31, 20X1, World Class Sport Shoe's accounts receivable total $100,000. The company uses the allowance method to account for uncollectibles. Read the reguirements. 1. Make World Class Sport Shoe's journal entry for bad debt expense. (Record debits first, then credits. Exclude explanations from journal entries.) 2. Show how World Class Sport Shoe could report accounts receivable on its balance sheet on December 31,201, by disclosing the allowance for uncollectible accounts. (Use parentheses or a minus sign for numbers to be subtracted.) Required 1. Make World Class Sport Shoe's journal entry for bad debt expense. 2. Show how World Class Sport Shoe could report accounts receivable on its balance sheet on December 31,201, by disclosing the allowance for uncollectible accounts