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 $106,000 and $149,000, respectively. What was the balance of accounts receivable on January 1, 2024, if $250 in accounts receivable were written off during 2024 and if the allowance account had a balance of $990 on December 31, 2024?

$680

None of these answer choices are correct.

$142,250

$49,000