As of January $1,2024,$ Farley Company had a credit balance of $$529,000$ in its allowance for uncollectible accounts. Based on experience, $2\%$ of Farley's credit sales have been uncollectible. During $2024,$ Farley wrote off $$638,000$ of accounts receivable. Credit sales for $2024$ were $$19,700,000.$ In its December $31,2024,$ balance sheet, what amount should Farley report as allowance for uncollectible accounts?

$1)285,000$

$2)923,000$

$3)503,000$

$4)394,000$