Estimating Allowance for Doubtful Accounts Evers Industries has a past history o

Question

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Percent Uncollectible Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due 1% 12 30 75 Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the chart below. Evers Industries Estimate of Allowance for Doubtful Accounts Total recelvables Percentage uncollectible Allowance for doubtful accounts Balance 1,124,500 Not Past Due 607,400 196 Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 233,000 121600 12% 96500 30% 66000 75%

Explanation / Answer

Age Balance Estimated percentage of Uncollectible Allowance Not Past Due 607400 1% 6074 Days Past Due 1-30days 233000 3% 6990 Days Past Due 31-60days 121600 12% 14592 Days Past Due 61-90 Days 96500 30% 28950 Days Past due over 90 Days 66000 75% 49500 $1124500 Total 106106 Total Uncollectible/Doubtful amounts to be provided is   $106106

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.