Oceanside Company uses the balance sheet approach in estimating uncollectible accounts expense. Its Allowance for Doubtful Accounts has a $2,600 credit balance prior to adjusting entries. It has just completed an aging analysis of accounts receivable at December 31, Year 1. This analysis disclosed the following information: Age Group Total $ 80,000 $ 36,000 $ 27,000 Percentage Considered Uncollectible 1% 48 88 Not yet due 1-30 days past due 31-60 past due What is the appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, Year 1? Multiple Choice $71,000 O $143,000 $4,400. O $2,960