gpt is giving incorrect plss a good experexpert solve else fase dislikdislike Balance sheet approach is used to estimate bad debts expense. Based on a historical analysis, $1\%$ of credit sales have historically not been collectable. Total sales for the period were $$1,000,000.$ The beginning balance in the allowance for doubtful accounts was $$12,000.$ Per the aging schedule, the ending balance in the allowance account would be $$15,000.$ There were $$500$ of write offs of accounts recelvable during the period. What was bad debt expense using the balance sheet approach?