Those areas have the best chance of accumulating snow. The precipitation will start out as snow for Missouri. In northern Arkansas it will be a mix. As the sun comes up, temperatures will start to warm to the mid 30's. The snow will start to mix with rain/snow.
As a cold front moves through the area the rain/snow mix will switch back to snow. Here is the break down of the precipitation.
To the north almost all of the storm will be snow. Near I-44 it will start out as snow then switch to a mix and also rain. As the cold front moves through it will switch back to all snow after 5pm. In northern Arkansas it will start as a mix then quickly switch to rain. Most of the precipitation will be rain. After 9pm it will start to switch over to snow. Here are the forecasted snowfall totals.
Northern Arkansas won't see much more than a dusting to 1". Southern Missouri will see up to 2". The farther north you go the more snow. Our northern counties will see 2"-4". Be careful with your New Year's Eve plans as the roads will likely be slick for everyone in the Ozarks.
There will be a few flurries on Tuesday. It will be another cold week but it will warm to seasonble temperatures this coming weekend.