Question 1: 20 marks Foot Fault maintains an Accounts Receivable control account and a subsidiary Receivables sub-ledger with customer-by-customer details. Foot Fault also maintains an Allowance for Doubtful Accounts. Michele Teper is reviewing management's draft Statement of Financial Position, which lists the net value of the Accounts Receivable as at December 31,2021 , as follows: All of Foot Fault's customers are extended terms of n/30, which means any receivable is due within 30 days from the invoice date. Foot Fault estimates the collectability of receivables aged more than 30 days to be as follows: - 030 days of age: 0% will be uncollectible (i.e. all accounts will be collected) - 31-60 days of age: 2% will be uncollectible - 61-90 days of age: 10% will be uncollectible - Over 90 days of age: 50% will be uncollectible Michele wants to test the valuation assertion of Accounts Receivable. She decides to create an Aged Accounts Receivable Trial Balance similar to that found on page 477 of the course textbook. Michele considers materiality for her inquiry to be $5,000. (Note: it is a coincidence that the dollar value of materiality is the same number as the asserted dollar value amount of the Allowance for Doubtful Accounts in the draft statements produced by Foot Fault). Your Group's sub-ledger customer account receivable data is contained in a separate file. Required: (a) Produce an Aged Accounts Receivable Trial Balance for Foot Fault as at the Balance Sheet date. (b) State an opinion on whether Foot Fault's Receivables are materially misstated. You must explain why you come to your conclusion using your analysis in part (a)