Can someone tell me if my work is correct?

Option #1: Bad Debts, Future and Present Value Paisley Corporation operates in an industry that has a high rate of bad debt. The year-end balance reported in the balance sheet for the Allowance for Doubtful Accounts will be based on the aging schedule shown below: Days Account Outstanding AmountProbability of Not Collecting Less than 30 days Between 31 and 60 days 122,400 10 Between 61 and 90 days 84,000 20 Between 91 and 120 days 66,000 30 Over 120 days 351,600 .05 9,600 40 Before year-end adjustments, Paisley's Allowance for Doubtful Accounts had a debit balance of $8,000. Use the ACT350_CTTemplate_Mod4.xlsx file (in the module folder) to answer the following. 1. What is the appropriate balance for the Allowance for Doubtful Accounts at year-end? 2. Show how accounts receivable would be presented on the balance sheet. State the differences between U.S GAAP and IFRS reporting for accounts receivable 3. What is the year-end bad debt adjustment? Part A Expected Percentage Uncollectible Days Account Outstanding Estimated Uncollectible Amount 0-30 days 31-60 days 61-90 days 91-120 days Over 120 days $351,600 122,400 84,000 66,000 9,600 633,600 $17,580 12,240 16,800 19,800 3,840 $70,260 0.05 0.4 Accounts receivable Less: Allowance for doubtful accounts Accounts receivable (net) $633,600 70,260 $563,340 Estimated amount required in the Allowance for Doubtful Accounts (credit balance) Balance in the account after write-off of uncollectible accounts but before adjustment (debit balance) Required charge to expense (need to add due to debit balance) $70,260 8,000 $78,260