An aging of Lily Companys accounts receivable as of December 31 revealed the following.

Amount % Uncollectible

Current $122,000 2%

1-30 days 24,000 10%

31-60 days 8,000 30%

Over 60 days 9,000 75%

Compute the appropriate Allowance for Bad Debts balance as of the end of the year.

$8,000

$13,990

$9,000

$15,170

$24,000

$12,520