Oceanside Company uses the balance sheet approach in estimating uncollectible accounts expense. Its Allowance for Doubtful Accounts has a $2,200 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: Percentage Age Group Considered Total Uncollectible Not yet due $ 72,000 18 1-30 days past due $ 34,000 3% 31-60 past due $ 23,000 98 What is the appropriate balance for Oceanside's Allowance for Doubtful Accounts at December 31, Year 1? Multiple Choice $2,790. $61,000