kirchhoff industries has a past history of uncollectible accounts, as follows km

Question

kirchhoff industries has a past history of uncollectible accounts, as follows kmarks WindowHelp d193313 i-Ready Show Me How 13) Wheelle Late For Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as follows 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 Percent Uncollectible 2% 18 40 75 Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the chart below Kirchhoff Industries Estimate the Allowance for Doubtful Accounts Days Past Due 61-90 03,000 Due 31-60 Days Past Due Over 90 266,600 124,000 1,180,000 626,400 Total receivables Percentage uncolectible Alowance for doubtful accounts 2% Check My Work 3 mone Check hy Work uses remairing

Explanation / Answer

Kirchoff Industries Estimate the allowance for Doubtful Accounts Balance Not Past Due Days past due 1-30 Days past due 31-60 Days past due 61-90 Days past due over 90 Total receivables        11,80,000 6,26,400 2,66,600 1,24,000 1,03,000 60,000 Percentage uncollectible 2% 4% 18% 40% 75% Allowance for doubtful accounts           1,31,712              12,528                          10,664                             22,320                             41,200                                 45,000

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