10. Justin Trudeau Inc. had credit sales of $2,000,000 and sales returns and allowances of $125,000 during 2020. On January 1, 2020, Allowance for Doubtful Accounts had a credit balance of $36,500. During 2020, $85,000 of uncollectible accounts receivable were written off. Past experience indicates that 8% of net credit sales become uncollectible. What should be the adjusted balance of Allowance for Doubtful Accounts at December 31, 2020?