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Chez Fred Bakery estimates the allowance for uncollectible accounts at 2% of the ending balance of accounts recelvable. During 2024, Chez Fred's credit sales and collections were $123,000 and $141,000, respectively. What was the balance of accounts receivable on January 1, 2024, if $120 in accounts receivable were witten off during 2024 and if the allowance account had a balance of $1,050 on December 31, 2024? Mutiple Choico $41000 $480 $70620 None of these answet cholces are correct