As of January 1, 2016, Farley Co. had a credit balance of $537,000 in its allowance for uncollectible accounts. Based on experience, 4% of Farley's credit sales have been uncollectible. During 2016, Farley wrote off $635,000 of accounts receivable. Credit sales for 2016 were $19,800,000. In its December 31, 2016, balance sheet, what amount should Farley report as allowance for uncollectible accounts?