In 2022 the Nash's Trading Post, LLC had net credit sales of $800000, On January 1, 2022, the Allowance for Doubtful Accounts had a credit balance of $20000. During 2022, $32000 of uncollectible accounts receivable wore written off. Past experience indicates that the allowance should be 5% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $220000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022? $23000. $32000. $31000 $11000