show the accounts receivable section of financial position at December 31, 2024 (b)

Wildhorse L.td. began operations in January 2023. On December 31. 2023, the end of its first year of operations, the balance in the compary's Accounts Receivable account was $126,000. All of the company's sales are made on account, and during 2023,80% of the total credit sales were collected, and no accounts were written off as uncollectible. Wildhorse's management grouped its receivables based on credit risk characteristics, including geographic location and the length of time the receivables have been outstanding, and estimated the expected rate of credit losses for each group. Based on this, management estimated that the expected total credit losses would be $12,600. During the following year, 2024. Wildhorse had sales totalling $957,000. It collected 75% of these sales, together with 95% of the outstanding receivables from 2023. During 2024, the company wrote off $20,300 of receivables from customers whose accounts were determined to be uncollectible. During the year, the company also recovered $3,400 from customers whose accounts had previously been written off, (Note that this amount was not incloded in the collection figures given above.) Management determined that the expected total credit losses would be $19,625. (To record aredit sales) Cash Accounts Recelvable. (fo record cash collected from customers) Allowance for Expected Credit Losses Accounts Rirotivatic (To write off accounts judged uncollectible) Accounts Receivabie Alonance for Expected Credt Losses for relinstate an account that was previously. written off) Cabl Accotants Rece vabte (To record subsequent collection of accounts that were previously written off) Credit losfes: 19625 Alowance tor Expected Gredit Losses 19625 (To recognize the aedit losses) eTextbook and Media (b) Show the accounts receivable section of the statement of financial position at December 31,2024. Question 4 of 5 rlorecognter the dedit osses). eTectbook and Media List of Accounts Accourits Payable Arcourits Receivable Advertising Expense Allowance for Expected Credit Losses Bank Charges Expense Bank Loan Payable Cash Credit tosses Debit Card Expense Income tax Receivable Insurance Expense Interest Expense: Interest Revenue No Entry Notes Payable Notes Receivable Sales Revenue Utilities Expense