From its first day of operations to December 31,2023 , Marieold Corporation has followed ASPE and has provided for uncollectible accounte recelvable under the allowance method: 1. Entries for bad debt experse were made monthly based on 3.05 of credit sales. 2 Bad debts that were written off were charged to the Allowance for Doubtful Accounts. 3. Recoweries of bad debts previously written off were credited to the allowance account. 4. No year-end adlustments were made to the allowance account. The balance in Allowance for Doubtful Accounts was 5183,000 at January 1.2023. During 2023, ereat fales tatalled 5 to.0 mitlion. interim entries for bad debt experse were based on 30% of credit tales, and recoveries of accounts presioushy written oft atiountied to $12,000 in early 2023,593,000 of bad debts were written of Marigold upgraded its computer fachty in Nowember 202? and an aging of accounts receivable was prepared for the first time as at Decerbber 31. 2023 . Marigolu's usual credit terma are net 30 days Which remains uncharged. A summary of the asing analyis fotlows: Based on a rewiew of how collectible the accounts really are in the "Before lancary 1, 2023 " aying category, soditional receluables totalling $72,000 were written off as at December 31,2022. The 65.6 uncollectible estimate therefore only apolies to the remainte $88,000 in the category. Finsally, becinning with the year ended December 31, 2073, Marcold adocted a new accounting me thod for estimating the allowance for doubtud accounte it now uses the amount in the year erd aging aralysit of accouints recehatie (a) In calcul atins the allowance mount at December 31, 2023. subtract the 572,000 write off of recelvablets) Question 5 of 6 Write-offs for 2023 Balance at December 31,2023 before change in accounting estimate Increase due to change in accounting estimate during 2023 Balance at December 31,2023 adjusted eTextbook and Media List of Accounts Attempts: 0 of 1 used Prepare the journal entry for the year-end adjustment to the Allowance for Doubtful Accounts balance as at December 31.2023. (Credit occount tibles are automatically indented when the amount is entered, Do not indent menually. If no entry ls required select "To Entry" for the occount tities and enter O for the amounts. [ist oll debit entries before credit entries]