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 2012, accounts receivable were $600,000 and the allowance account had a credit balance of $64,000. Accounts receivable activity for 2013 was as follows: Beginning balance $ 600,000 Credit sales 2,750,000 Collections (2,613,000 ) Write-offs (52,000 ) Ending balance $ 685,000 The companys controller prepared the following aging summary of year-end accounts receivable: Summary Age Group Amount Percent Uncollectible 060 days $ 435,000 3 % 6190 days 93,000 10 91120 days 62,000 21 Over 120 days 95,000 36 Total $ 685,000