Question 6 of 7 1.6712 Current Attempt in Progress Wildhorse Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Wildhorse's Accounts Receivable account was $581,000 and Allowance for Doubtful Accounts had a credit balance of $40,670. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below. Probability of Collection Amount $313,600 0.97 Days Account Outstanding Less than 16 days Between 16 and 30 days Between 31 and 45 days 111,700 0.90 82.900 0.86 0.78 40.200 Between 46 and 60 days 18.400 Between 61 and 75 days 0.57 14,200 0.00 Over 75 days (to be written off) o udy5 il ve written off) 14,200 0.00 (a) Your answer is correct. What is the appropriate balance for Allowance for Doubtful Accounts at year-end? $ 48940 Balance for Allowance for Doubtful Accounts Attempts: (b) 15 o El + Type here to search CH7 Homework Question 6 of 7 1.67 / 2 Show how accounts receivable would be presented on the balance sheet. WILDHORSE CORPORATION Balance Sheet (Partial) Accounts Receivable $ 566800 Les Allowance for Doubtful Accounts 48940 i 517860 Net Accounts Receivable Attempts: 1 of 15 used (c) Your answer is partially correct 15 What is the dollar effect of the year-end bad debt adjustment on the before-tax income? Type here to search ORD 11 Lev die 3 517860 Attempts: 1 of 15 use (c) Your answer is partially correct. What is the dollar effect of the year-end bad debt adjustment on the before-tax income? $ 14,200 decrease Dollar effect of the year-end bad debt adjustment Attempts: 5 of 15 used Submit Answer Save for Later o W 15 Type here to search How PrtSense