Manilow Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Manilow's Accounts Receivable was $555,000 and Allowance for Doubtful Accounts had a credit balance of $40,000. The year-end balance reported in the statement of financial position for Allowance for Doubtful Accounts will be based on the following aging schedule. Instructions a. What is the appropriate balance for Allowance for Doubtful Accounts at yearend? b. Show how accounts receivable would be presented on the statement of financial position