Chez Fred Bakery estimates the allowance for uncollectible accounts at 1% of the ending balance of accounts receivable. During 2024, Chez Fred's credit sales and collections were $112,000 and $133,000, respectively. What was the balance of accounts receivable on January 1,2024 , if $260 in accounts receivable were written off during 2024 and if the allowance account had a balance of $450 on December 31,2024 ? Multiple Choice $33,000 $470 $66,260 None of these answer choices are correct