As of January 1, 2021, Farley Co. had a credit balance of $536,000 in its allowance for uncollectible accounts. Based on experience, 3% of Farley's credit sales have been uncollectible. During 2021, Farley wrote off $634,000 of accounts receivable. Credit sales for 2021 were $19,200,000. In its December 31, 2021, balance sheet, what amount should Farley report as allowance for uncollectible accounts? Multiple Choice X $674,000. $576,000. $1,112,000. $478,000