Mini-Exercise 5-3 (Algo) Accounts receivable, bad debts, credit sales, and cash collections analysis LO 5.5 At the beginning of the year, accounts receivable were $159,000 and the allowance for bad debts was $13,000. During the year, sales (all on account) were $615,000, cash collections were $595,000, bad debts expernse totaled $18,700, and $13,500 of accounts receivable were written off as bad debts. Required: Calculate the balances at the end of the year for the Accounts Receivable and Allowance for Bad Debts accounts. (Hint. Use T-accounts to analyze each of these accounts, plug in the amounts that you know, and solve for the ending balances.)