1 Shipped P References The next three questions use the same information Winter Gear, Inc. started business on January 1, 20X1. The company uses the income statement approach to estimating bad debts. The company incorrectly used the actual write-off of the receivable for the recorded bad debt expense in the below income statement Credit sales $678,000 Bad debt expense as a percentage of sales 2 Write-off of accounts receivable $1.000 Tax rate 30% Estimated tax payment $31000 Incorrect Income statement for the year ended December 31 Sales $678,000 Expenses 549,200 Bad debt expense 1000 Pretax income 127,800 Tax expense 38.340 Net income 89.460 What is ending balance of allowance for doubtful accounts in 20X!? Note: record bad debt expense and then factor in the impact of the actual write-off. The allowance for doubtful accounts is always a credit balance de not use brackets in your solution Numer Response Prey 1 of 12 Next >