On December 31, 2023, Wildhorse Company reported the following information in its financial statements: Accounts receivable Allowance for expected credit losses Credit losses $1,192,600 83,482 82,282 During 2024, the company had the following transactions related to receivables: 1. Sales were $10,585,000, of which $8,468,000 were on account. 2. Collections of accounts receivable were $7,299,000. 3. Writeoffs of accounts receivable were $78,000. 4. Recoveries of accounts previously written off as uncollectible were $8,500. (Note that this amount is not included in the collections referred to in item 2 above.)

I need help answering Part D (I added the missing pictures for context)

Prepare the journal entry to record the credit losses for 2024. Wildhorse Company has determined that the length of time a receivable is outstanding is the most appropriate credit risk characteristic for determining expected credit losses, and the company has prepared an aging schedule, which indicates that the expected credit losses as at the end of 2024 total $94,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries.) (d) Your answer is partially correct. Show what would be presented on the statement of financial position as at December 31, 2024, related to accounts receivable. No. Account rites and Explangtion ve? Credit (1) Accounts Receivable Cash 2117000 Sales Revenue (2) Cash Accounts Receivable (3) Allowance for Expected Credit Losses Accounts Receivable (4) Accounts Recelvable 8500 Allowance for Expected Credit Losses (To reinstate an accounts that were previously written off) Cash Accounts Recelvable (To record recovery of accounts On December 31,2023 , Wildhorse Company reported the following information in its financial statements: During 2024, the company had the following transactions related to receivables: 1. Sales were $10,585,000, of which $8,468,000 were on account. 2. Collections of accounts recelvable were $7,299,000. 3. Writeoffs of accounts receivable were $78,000. 4. Recoveries of accounts previously written off as uncollectible were $8,500. (Note that this amount is not included in the collections referred to in item 2 above.) Enter the Accounts Receivable and the Allowance for Expected Credit Losses balances on January 1,2024, Then post the entries presented in the previous part and calculate the new balances in these accounts. (Post entries in the order of journal entries presented in the previous part.)