Given the following information, which is the ending balance in the allowance for doubtful accounts?...
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Accounting
Given the following information, which is the ending balance in the allowance for doubtful accounts?
- Company used percentage of credit sales method for simplicity.
- Beginning allowance account had $4,000.
- Sales for the period were $1,000,000. 25% of sales were paid for in cash.
- 3% of credit sales are deemed uncollectible.
- One account was written off for $1,000.
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