Martinez Corp. had record sales in $2023.$ It began $2023$ with an Accounts Receivable balance of $$506,100$ and an Allowance for

Expected Credit Losses of $$32,000.$ Martinez recognized credit sales during the year of $$6,412,000$ and made monthly adjusting

entries equal to $0\mathrm{.}5\%$ of each month's credit sales to recognize the loss on impairment. Also during the year, the company wrote off

$$34,000$ of accounts that were deemed to be uncollectible, although one customer whose $$3,840$ account had been written off

surprised management by paying the amount in full in late September. Including this surprise receipt, $$6,305,760$ in cash was collected

on account in $2023.$

To assess the reasonableness of the allowance for expected credit losses, the controller prepared the following aged listing of the

receivables at December $31,2023$ :

Reconcile the $2023$ opening balance in Accounts Receivable to the $$582,180$ ending balance on the controller's aged listing.

Accounts Receivable Reconciliation

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