Olympic kitchen and bath fixtures and supplies ltd$.$ Accounts receivable analysis. As at December $31$ $$13\mathrm{.}25$ million. What is your best estimate of the allowance for doubtful accounts? Normally you have an estimated $\%$ based on historical data. This question doesn't provided that, so I need expert help.

OLYMPIC KITCHEN $+$ BATH FIXTURES AND SUPPLIES LTD$.$

Accounts Receivable Analysis

Aging Summary

As at December $31,2023$

Current

Total

$0-30$ days

$30-60$ days

$60-90$ days

$90-120$ days

$+120$ days

$$13\mathrm{.}25$ Million

$$5\mathrm{.}80$ Million

$$3\mathrm{.}50$ Million

$$1\mathrm{.}80$ Million

$$1\mathrm{.}25$ Million

$$0\mathrm{.}90$ Million

Company's credit terms are payments to be received net $60$ days

Macroeconomic conditions$-$ current high inflation, high interest rates, low dollar and stable employment

Sales increased by $5\%$ in $2023$ over $2022$

Company had aggressive sales promotions to increase new customers, part of the overall increase in

sales represents $2\%$ new customers or $40\%$ of the overall sales increase.

Nature of Business

Company manufactures high end, luxury kitchen and bath faucets primarily for sale in Canada

What is your best estimate of the Allowance for Doubtful Accounts? $($AFDA$)$