Bale Company estimates the allowance for uncollectible accounts at 4% of the ending balance of accounts receivable. During 2021, Bale's credit sales and collections were $258,000 and $171,000, respectively. What was the balance of accounts receivable on January 1, 2021, if $3,900 in accounts receivable were written off during 2021 and if the allowance account had a balance of $8,000 on December 31, 2021?

Multiple Choice

• $120,800

• $113,000

• $116,900

• $109,100