At January 1, 2023, the credit balance of Marigold Corp's Allowance for Expected Credit Losses was $406,000. During 2023, the loss on impairment entry was based on a percentage of net credit sales. Net sales for 2023 were $80 million, of which 90% 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 sates, During 2023, uncollectible receivables amounting to $508,500 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 $532,500. Prepare a schedule calculating the bulance in Marieold S Allowance for Expected Credit losser at December 21. 262.1