Chez Fred Bakery estimates the allowance for uncollectible accounts at 2% of the ending balance of accounts receivable. During 2024, Chez Fred's credit sales and collections were $106,000 and $134,000, respectively. What was the balance of accounts receivable on January 1, 2024, if $160 in accounts receivable were written off during 2024 and if the allowance account had a balance of $960 on December 31, 2024? Multiple Choice O O O O $34,000 $720 $76,160 None of these answer choices are correct.

Chez Fred Bakery estimetes the alowance for uncollectible accounts at 2% of the ending balance of accounts receivable, During 2024 , Chez Fredis credit sales and collections were $106,000 and $134,000, respoctively. What was the balance of accounts receivable on January 1,2024, if $160 in accounts receivable were written off during 2024 and if the allowance account had a balante of $960 on December 31,2024 ? Mulinie Choice $34,000 $720 $76.160 None of these answer choices are correct