chez fred bakery estimates the allowance for uncollectible accounts at 1% of the ending balance of accounts receivable. during 2024, chez fred's credit sales and collections were $116,000 and $131,000, respectively. what was the balance of accounts receivable on january 1, 2024, if $160 in accounts receivable were written off during 2024 and if the allowance account had a balance of $870 on december 31, 2024? multiple choice $31,000 $310 none of these answer choices are correct. $102,160
