9. In 2022, a company had net credit sales of $1,500,000. On January 1, 2022, Allowance for Doubtful Accounts had a credit balance of $32,000. During 2022, $60,000 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage of receivable basis). If the accounts receivable balance at December 3 was $400,000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022? (2.5 point) 1) $40,000. 2) $68,000. 3) $72,000. 4) $60,000