At the beginning of the year, Penman Company had the following account balances.

During the year, Penman's credit sales were \(\$ 1,241,000\) and collections on accounts receivable were \(\$ 1,195,000\). The following additional transactions occurred during the year.

Feb. 17 Wrote off Nissim's account, \(\$ 4,100\).
May 28 Wrote off Weiss's account, \(\$ 2,400\).
Dec. 15 Wrote off Ohlson's account, \(\$ 1,100\).
Dec. 31 Recorded the bad debts expense assuming that Penman's policy is to record bad debts expense as \(0.8 \%\) of credit sales. Compute the ending balances in accounts receivable and the allowance for uncollectible accounts. Show how Penman's December 31 balance sheet reports the two accounts.

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Accounts receivable.... Allowance for uncollectible accounts.. $125,000 8,200