Gal's Equine Adventures Inc. (GEA) uses the aging method for its accounts receivable. Pertinent facts for its year-ended December 31, 20x9 follow: January 1, 20X9 balance in the allowance for doubtful accounts - $45,000. Sales made during 20x9 - $2,000,000. 90% of sales were made on credit terms. Accounts written off as uncollectible during the year - $60,000, - Recovery of account previously written off during the year - $6,000. Gross accounts receivables outstanding at December 31, 20x9 - $320,000. . During 20x9 GEA factored (sold) $150,000 of its accounts receivables on a without recourse basis for $135,000 cash The aging schedule for GEA's receivables at December 31, 20X8 follows: Balance outstanding, December 31, 20X9 Estimated default rate 0-30 days $230,000 1% 31-90 dyas $70,000 2% >90 days $20,000 4% Total $320,000 PUT YOUR ANSWER IN THE BOX FOLLOWING THE QUESTION - DO NOT INCLUDE A S SIGN IN YOUR ANSWER What is the required balance in the allowance for doubtful accounts at December 31, 20X9? ]