In 2022, AIF Corp Retailers sell $100,000 furniture to customers on account (i.e., on credit)....
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Accounting
In 2022, AIF Corp Retailers sell $100,000 furniture to customers on account (i.e., on credit). The company records bad debt expense equal to 5% of credit sales. If the company writes off $2,000 of the accounts receivable as uncollectible, and collects customer payments of $9,000 cash on the accounts receivable, what is the ending balance in the company's allowance for doubtful accounts at the end of the year, December 31, 2022?
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