12. Hoover Company had beginning inventory of $15,000 at March 1, 2022. During the month, the company made purchases of $65,000. The inventory at the end of the month is $17,300. What is cost of goods sold for the month of March? a. $62,700 b. $65,000 c. $80,000 d. $82,300 13. Accounts receivable are valued and reported on the balance sheet a. in the investments section. b. at gross amounts less sales returns and allowances. c. at cash realizable value. d. only if they are not past due. 14. The account Allowance for Doubtful Accounts is classified as a(n) a. liability, b. contra account to Bad Debt Expense. c. expense. d. contra account to Accounts Receivable