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Swathmore Clothing Corporation grants its customers 3 0 days' credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a

Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt accrual is made by multiplying 2% times the amount of credit sales for the month. At the fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly.
At the end of 2023, accounts receivable were $608,000 and the allowance account had a credit balance of $72,000. Accounts receivable activity for 2024 was as follows:
\table[[Beginning balance,$608,000
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