Paisley Corporation operates in an industry that has a high rate of bad debt. The year-end balance reported in the balance sheet for the Allowance for Doubtful Accounts will be based on the aging schedule shown below:

		Expected Percentage
Days Account		Uncollectible	Estimated Uncollectible
Outstanding	Amount
0–30 days	$351,600	0.05	$17,580
31–60 days	$122,400	0.1	$12,240
61–90 days	$84,000	0.2	$16,800
91–120 days	$66,000	0.3	$19,800
Over 120 days	$9,600	0.4	$3,840
	633,600		$70,260
Accounts receivable .............................................................................................		$633,600
Less: Allowance for doubtful accounts ..................................................................		70,260
Accounts receivable (net) .....................................................................................		$563,340
Estimated amount required in the Allowance
for Doubtful Accounts (credit balance) ...............................................................		$70,260
Balance in the account after write-off of uncollectible
accounts but before adjustment (debit balance) ................................................		$8,000
Required charge to expense (need to add due to debit balance) ...................		$78,260

Before year-end adjustments, Paisley’s Allowance for Doubtful Accounts had a debit balance of $8,000.

What is the appropriate balance for the Allowance for Doubtful Accounts at year-end?
Show how accounts receivable would be presented on the balance sheet. State the differences between U.S. GAAP and IFRS reporting for accounts receivable.
What is the year-end bad debt adjustment?