The Willson Company starts operations in Year One. It makes sales of $600,000 in Year One and $800,000 in Year Two. Cash of $440,000 is collected in Year One while $600,000 is collected in Year Two. Accounts of $15,000 are written off as uncollectible in Year One while accounts of $22,000 are written off in Year Two. The company estimates that 5 percent of all sales will eventually prove to be uncollectible. On the companys balance sheet at the end of Year Two, what should be reported as the allowance for doubtful accounts? I