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What is the amount of bad debts written off during year

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Problem - Michigan Company estimates the allowance for uncollectible accounts using the percentage of sales method. The firm reports the following data in year 2015:

Total credit sales in year 2015 $500,000

Bad debt estimate 2% of credit sales Allowance for uncollectible accounts, 1/1/2015 $15,000

Allowance for uncollectible accounts, 12/31/2015 $22,000

Required - What is the amount of bad debts written off during year 2015?

Reference no: EM132628097

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