Question: Maple Co. provides for bad debts expense at the rate of 5.85% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts

Maple Co. provides for bad debts expense at the rate of 5.85% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $10,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $560,000. Ending Accounts Receivable was $165,000.

What is the balance in the Allowance for Bad Debts account?

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