Question: Based on its past collection experience, Ace Company provides for bad debts at the rate of 2 percent of net credit sales. On January 1, 2002, the allowance for doubtful accounts credit balance was $10,000. During 2002, Ace wrote off $18,000 of uncollectible receivables and recovered $5,000 on accounts written off in prior years. If net credit sales for 1999 totaled $1,000,000, calculate the doubtful accounts expense for 2002?
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