The following information pertains to Acacia, Inc. for the year ended December 31, 2016: Credit sales during 2016 P 4,450,000 Collection of accounts receivable written off in prior periods 170,000 Worthless accounts written off in 2016 191,000 Allowance for doubtful accounts, Jan. 1, 2016 155,000 Acacia, Inc. provides for doubtful accounts based on 1 1/2% of credit sales. What is the balance of the allowance for doubtful accounts at December 31, 2016?