Save & EX False Value Hardware began 2021 with a credit balance of $31700 in the refund ability account Sales and cash collections from customers during the year were $590,000 and $550,000, respectively Falce Value estimates that 45 of all sales wil be retumed. During 2021, customers returned merchandise for credit of $18,000 to their accounts False Value Hardware's 2021 Income statement would report net sales of Multiple Choice $556 300 5576,300 3372.000 5566400 As of January 1, 2021. Farley Co had a credit balance of $524,000 in its allowance for uncollectible accounts. Based on experience, 1% of Farley's credit sales have been uncollectible During 202t. Farley wrote off $634,000 of accounts receivable. Credit sales for 2021 were $19,000,000. In its December 31, 2021, balance sheet what amount should Farley report as allowance for uncollectible accounts? Multiple Choice 5190.000 Soo ooo S80,000 4000