Required information (The following information applies to the questions display

Question

Required information (The following information applies to the questions displayed below] Jarden Doubtful Accounts has an unadjusted cr accounts receivable by age. On the basis of past experie that will become uncollectible. This information is summarized here Company has credit sales of $2,100,000 for year 2017.On December 31, 2017, the company's Allowance f Jarden prepares a schedule of its December 31, 2 edit balance of $12,403. nce, it estimates the percent of receivables in each age c December 31, 2017 Accounts Receivable xpected Percent Uncollectible 1 . 05% Age of Accounts Receivable $420,00o 168,000 33,600 16,800 3,360 Not yet due 1 to 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due 1.80 6.30 31.75 66.00 Estimate the required balance of the Allowance for Doubtful Accounts at December 31,2017, using the aging of accounts thod quired: Estimated

Explanation / Answer

Estimated required balance of allowance for doubtful accounts at december 31,2017

December 31,2017 account receivable Age of account receivable Expected percent uncollectible Estimated uncollectible account 420000 Not yet due 1.05% 4410 168000 1-30 days 1.80% 3024 33600 31-60 days 6.30% 2116.80 16800 61-90 days 31.75% 5334 3360 Over 90 days 66.00% 2217.60 Total 17102.40

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