Mode Multiple Choice Question The beginning of the month balance of Allowance for credit losses is $45,000. There were no account write-offs during the month. The gross receivables at the end of the month was $2,000,000 and credit sales were $3,000,000. The company would use a 5% assumption with the Gross accounts receivable approach and a 2% assumption with the Sales revenue approach. In recording the Credit loss expense under the Gross accountis receivable approach, Multiple choice