Swifty Corporation operates in an industry that has a high rate of bad debts. Before any year$-$end adjustments, the balance in Swifty's Accounts Recelvable account was $$$90,400$ and Allowance for Doubtful Accounts had a credit balance of $$40,320.$ The year$-$end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below.

$\backslash$table$[[$Days Account Outstanding,Amount,$\backslash$table$[[$Probability of$],[$Collection$]]],[$Less than $16$ days,$$312,000,0\mathrm{.}96],[$Between $16$ and $30$ days,$116,300,0\mathrm{.}90],[$Between $31$ and $45$ days,$84,500,0\mathrm{.}86],[$Between $46$ and $60$ days,$40,600,0\mathrm{.}80],[$Between $61$ and $75$ days,$21,600,0\mathrm{.}55],[$Over $75$ days $($to be written off$),15,400,0\mathrm{.}00]]$

What is the appropriate balance for Allowance for Doubtful Accounts at year$-$end?

Balance for allowance for doubtful accounts

Show how accounts receivable would be presented on the balance sheet.

SWIFTY CORPORATION

Balance Sheet $($Partial$)$