As of January 1, 2024, Barley Company had a credit balance of $524,000 in its allowance for uncollectible accounts. Based on experience, 1% of Barley's gross accounts receivable have been uncollectible. During 2024, Barley wrote off $654,000 of accounts receivable. Barley's gross accounts receivable as December 31, 2024 is $18,200,000.

In its December 31, 2024, balance sheet, what amount should Barley report as allowance for uncollectible accounts?

Multiple Choice

$52,000

$182,000

$312,000

$706,000