Oliver Company uses the percentage of accounts receivable ending balance method to estimate its bad...
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Accounting
Oliver Company uses the percentage of accounts receivable ending balance method to estimate its bad debt expense at 2%. The accounts receivable beginning balance is $200,000 and the ending balance is $150,000. During the year, Oliver had credit sales of $72,000, write-offs of $7,000, and collections of accounts receivable of $115,000. What is the ending balance for the allowance for doubtful accounts reported in the balance sheet?
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