Company had a $300 balance in the Allowance for Doubtful Accounts account at December 31, 2020, before the current year's adjustment for uncollectible accounts. An aging of the accounts receivable revealed the following:
Estimated Percentage
Uncollectible
Current Accounts |
$170,000 |
1% |
1–30 days past due |
15,000 |
3% |
31–60 days past due |
12,000 |
6% |
61–90 days past due |
5,000 |
15% |
Over 90 days past due |
9,000 |
30% |
Total Accounts Receivable |
$211,000 |
Required
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.
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