As of January 1, 2018, Farley Co. had a credit balance of $526,000 in its allowance for uncollectible accounts. Based on experience, 3% of Farley's credit sales have been uncollectible. During 2018, Farley wrote off $637,000 of accounts receivable. Credit sales for 2018 were $19,800,000. In its December 31, 2018, balance sheet, what amount will Farley report as allowance for uncollectible accounts? A. $705,000. B. $483,000. C. $1,120,000. D. $594,000.
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