Business, 31.10.2019 06:31 giovney

Young and old corporation (yoc) uses two aging categories to estimate uncollectible accounts. accounts less than 60 days are considered young and have a 4% uncollectible rate. accounts more than 60 days are considered old and have a 35% uncollectible rate.

required:

if yoc has $104,000 of young accounts and $440,000 of old accounts, how much should be reported in the allowance for doubtful accounts?

if yoc’s allowance for doubtful accounts currently has an unadjusted credit balance of $44,000, how much should be credited to the account?

if yoc’s allowance for doubtful accounts has an unadjusted debit balance of $5,400, how much should be credited to the account?

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Young and old corporation (yoc) uses two aging categories to estimate uncollectible accounts. accoun...