Home >Financials >United States Postal Service Annual Report 2010: Foundation For The Future > Notes to the Financial Statements > Note 3—Summary of significant accounting policies > Receivables and Allowance for Doubtful Accounts
Receivables are carried at cost. Receivables are generally liquidated within one year and do not have a stated interest rate.
Provision is made for doubtful accounts on outstanding receivables based on historical collection experience and an estimate of uncollectible accounts as of the reporting date. The following summarizes activity in the allowance for doubtful accounts:
Allowance for Doubtful Accounts (dollars in millions)
2010
2009
2008
Beginning Balance
$ 29
$ 41
$ 44
Provision for Doubtful Accounts
11
6
7
Write-offs
8
18
10
Balance at September 30
$ 32
