Novak Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Novak's Accounts Receivable account was $591,300 and Allowance for Doubtful Accounts had a credit balance of $40,920. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below. (a) 8 Your answer is incorrect. What is the appropriate balance for Allowance for Doubtful Accounts at year-end? Balance for allowance for doubtful accounts $