As of January 1, 2013, Farley Co. had a credit balance of $538,000 in its allowance for uncollectible accounts. Based on experience, 3% of Farley's credit sales have been uncollectible. During 2013, Farley wrote off $638,000 of accounts receivable. Credit sales for 2013 were $18,300,000.

In its December 31, 2013 balance sheet, what amount should Farley report as allowance for uncollectible accounts?