Ayayai Corporation, a private entity reporting under ASPE, was incorporated on January $3,2022.$ The corporation's financial statements for its first year of operations were not examined by a public accountant. You have been engaged to audit the financial statements for the year ended December $31,2023,$ and your audit is almost complete. The corporation's trial balance is as follows:

$\backslash$table$[[\backslash$table$[[$AyayaiCorporation$],[$Trial Balance$],[$December $31,2023]]],[,$Debit,Credit$],[$Cash$,$$$55,000,],[$Accounts receivable,$85,000,],[$Allowance for doubtful accounts,,$$1,500$