Blossom Ltd. has been in business for several years and has the following information for its operations which ended December 31, 2024:

1)Total sales for the year were $3,560,000, of which 60% were on account

2)The company estimates that total expected credit losses at December 31, 2024 will be $96,120.

3)Blossom Ltd. began the year with $650,000 in accounts receivable and a normal credit to the allowance for expected credit losses of $68.000.

4)Blossom Ltd. writes off customer accounts that have been outstanding for more than 120 days. During the year, accounts with a carrying amount of $77,000 reached the 120-day mark and were written off.

5)The company uses a collection agency to try to collect accounts that have been written off. The collection agency was able to collect $22,000 from customers whose accounts had previously been written off.

6)During the year the company collected $1,820,000 of its accounts receivable.

Calculate the Dec. 31, 2024 balances for Accounts receivable and the Allowance for Expected Credit Losses.