Business, 13.11.2019 06:31 kaelyynn752

Zuo software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. accounts not yet due = $400,000; estimated uncollectible = 8%. 2. accounts 1–30 days past due = $50,000; estimated uncollectible = 15%. 3. accounts 31–90 days past due = $40,000; estimated uncollectible = 30% 4. accounts more than 90 days past due = $30,000; estimated uncollectible = 50%. at 12/31/2021, before recording any adjustments, zuo has a credit balance of $22,000 in its allowance for uncollectible accounts. required: 1. estimate the appropriate 12/31/2021 balance for zuo’s allowance for uncollectible accounts. 2. what journal entry should zuo record to adjust its allowance for uncollectible accounts? 3. calculate zuo’s 12/31/2021 net accounts receivable balance.

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Zuo software categorizes its accounts receivable into four age groups for purposes of estimating its...