The Blessie Company uses the sales method to estimate its credit losses. It provides you the following selected information:

o Total credit sales for the year $2022$: $$800,000$

o Estimated uncollectible credit sales for the year $2022$: $1\%$

o Balance in allowance for doubtful accounts on December $31,2022,$ before making adjusting entry for uncollectible accounts expense: $$5,000$