Teal Corporation operates in an industry that has a high rate of bad debts. Before any year-end adjustments, the balance in Teal's Accounts Receivable account was $602,100 and Allowance for Doubtful Accounts had a credit balance of $40,390. The year-end balance reported in the balance sheet for Allowance for Doubtful Accounts will be based on the aging schedule shown below. Probability Days Account Outstanding Amount Less than 16 days Between 16 and 30 days Between 31 and 45 days Between 46 and 60 days Between 61 and 75 days Over 75 days (to be written off) $319,700 119,700 86,600 41,400 19,300 15,400 Collection 0.96 0.90 0.87 0.79 0.58 0.00 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. TEAL CORPORATION Balance Sheet (Partial)