NBC Company started operations in December $2019$ and recorded the following transactions during the period:

Cash Sales $-$ $$50,000$

Credit Sales $-$ $$75,000$

Estimated percentage of net credit sales that will be uncollectible is $10\%$

Collections attributed to credit sales $-$ $$5,000$

Returns attributed to credit sales $-$ $$7,000$

Write offs of uncollectible accounts $-$ $$6,000$

Net credit sales at the end of December is equal to $$68,000.$

true or false?