At the end of the prior year. Durney"s Outdoor Outfltters reported the following information. During the current year, sales on account were $304,423, collections on account were $289,850, write-offs of bad debts were $6.969. and the bad debt expense adjustment was $4,685. Page 323 Required: Show how the amounts related to Accounts Receivable and Bad Debt Expense would be reported on the income statement and balance sheet for the current year. (Hint: Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values.)