Jarden Company has credit sales of $3,600,000 for year 2017. On December 31, 2017, the company Doubtful Accounts has an unadjusted credit bronce of $14,500. Jarden prepares a schedule of its December 31, 2 accounts receivable by age. On the basis of pust experience, it estimates the percent of receivables in each age c that will become uncollectible. This information is summarized here. fue: December 31, 2017 Accounts Receivable $830,000 254,000 86,000 38,000 12,000 Age of Accounts Receivable 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 Accounts receivable uired: timate the required balance of the Allowance for Doubtful Accounts at December 31, 2017, using the aging of accou mod. Expected Percent Uncollectible 1.25% 2.00 6.50 Percent uncollectible (#.##%) 32.75 68.00 Estimated uncollectible
Jarden Company has credit sales of $3,600,000 for year 2017. On December 31, 2017, the company Doubtful Accounts has an unadjusted credit bronce of $14,500. Jarden prepares a schedule of its December 31, 2 accounts receivable by age. On the basis of pust experience, it estimates the percent of receivables in each age c that will become uncollectible. This information is summarized here. fue: December 31, 2017 Accounts Receivable $830,000 254,000 86,000 38,000 12,000 Age of Accounts Receivable 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 Accounts receivable uired: timate the required balance of the Allowance for Doubtful Accounts at December 31, 2017, using the aging of accou mod. Expected Percent Uncollectible 1.25% 2.00 6.50 Percent uncollectible (#.##%) 32.75 68.00 Estimated uncollectible
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 3CP: At the end of 20-3, Martel Co. had 410,000 in Accounts Receivable and a credit balance of 300 in...
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