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Maple Co. provides for bad debts expense at the rate of 5.81% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts

Maple Co. provides for bad debts expense at the rate of 5.81% of ending Accounts Receivable. On Jan 1, 20X1, the Allowance for Bad Debts was $17,000. There were $16,000 of accounts written off during the year. Credit sales for the year were $500,000. Ending Accounts Receivable was $125,000.

What is the amount of Bad Debt Expense for the year?

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