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Advanced Placement (AP), 29.11.2020 03:20 Webber07

Estimating Doubtful Accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows:

Age Class Balance Percent Uncollectible
Not past due $556,000 3/4 %
1–30 days past due 61,200 2
31-60 days past due 27,800 7
61–90 days past due 20,000 15
91–180 days past due 14,500 39
Over 180 days past due 10,600 70
$690,100
Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31.

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