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Business, 16.03.2020 20:55 salsaanddoritos899

Estimating Doubtful Accounts Performance 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 Interval Balance Percent Uncollectible Not past due $3,250,000 0.8 % 1–30 days past due 1,050,000 2.4 31-60 days past due 780,000 7.0 61–90 days past due 320,000 18.0 91–180 days past due 240,000 34.0 Over 180 days past due 150,000 85.0 $5,790,000

Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31. Estimated Uncollectible Accounts Age Interval Balance Percent Amount Not past due $3,250,000 0.8% $ 1-30 days past due 1,050,000 2.4 31-60 days past due 780,000 7.0 61-90 days past due 320,000 18.0 91-180 days past due 240,000 34.0 Over 180 days past due 150,000 85.0 Total $5,790,000 $

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Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging o...

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