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Maple Co. provides for bad debts expense at the rate of 1.17% of credit sales...

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Accounting

Maple Co. provides for bad debts expense at the rate of 1.17% of credit sales for the period. On Jan 1,201, the Allowance for Bad Debts was $38,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $740,000.
What is the balance in the Allowance for Bad Debts account?
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