Oriole Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Oriole's Accounts Receivable account was $584,900 and Allowance for Doubtful Accounts had a credit balance of $42,500. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below. Days Account Outstanding Less than 16 days Between 16 and 30 days Between 31 and 45 days Between 46 and 60 days Between 61 and 75 days Over 75 days (to be written off) Amount $312,200 111.900 86,000 40,900 19,100 14,800 Probability of Collection 0.98 0.90 0.86 0.80 0.55 0.00 X Your answer is incorrect. What is the appropriate balance for Allowance for Doubtful Accounts at year-end? Balance for Allowance for Doubtful Accounts $ 52616 e Textbook and Media Your answer is partially correct. Show how accounts receivable would be presented on the balance sheet. ORIOLE CORPORATION Balance Sheet (Partial) Accounts Receivable $ 584900 Less : Allowance for Doubtful Accounts 52616 Net Accounts Receivable $ 532284 Your answer is partially correct. What is the dollar effect of the year-end bad debt adjustment on the before-tax income? Dollar effect of the year-end bad debt adjustment $ 10116 decrease