As of January 1, 2021, Farley Co. had a credit balance of $539,000 in its allowance for uncollectible accounts. Based on experience, 3% of Farley's credit sales have been uncollectible. During 2021, Farley wrote off $638,000 of accounts receivable. Credit sales for 2021 were $18,800,000. In its December 31, 2021, balance sheet, what amount should Farley report as allowance for uncollectible accounts? Multiple Choice $1,103,000. $465,000. $564,000. $663,000