At January 1, 2023, the credit balance of Blue Spruce Corp.'s Allowance for Expected Credit Losses was $411,000. During 2023, the loss on impairment entry was based on a percentage of net credit sales. Net sales for 2023 were $79 million, of which 89% were on account. Based on the information available at the time, the 2023 loss on impairment was estimated to be 0.80% of net credit sales. During 2023, uncollectible receivables amounting to $481,000 were written off against the allowance for expected credit losses. The company has estimated that at December 31,2023, based on a review of the aged accounts receivable, the allowance for expected credit losses would be properly measured at $526,500. (a1) Prepare a schedule calculating the balance in Blue's Allowance for Expected Credit Losses at December 31, 2023