The Fossell Fashions Store uses the accounts receivable aging method to estimate uncollectible accounts. On February 1, 20x7, the balance of the Accounts Receivable account was a debit of $446,341, and the balance of Allowance for Uncollectible Accounts was a credit of $43,000. During the year, the store had sales on account of $3,724,000, sales returns and allowances of $63,000, worthless accounts written off of $44,300, and collections from customers of $3,214,000. As part of the end-of-year (January 31, 20x8) procedures, an aging analysis of accounts receivable is prepared.

The analysis, which is partially complete, is as follows:

From past experience, the company has found that the following rates are realistic for estimating uncollectible accounts:

Required 1. Complete the aging analysis of accounts receivable. 2. Compute the end-of-year balances (before adjustments) of Accounts Receivable and Allowance for Uncollectible Accounts. 3. Prepare an analysis computing the estimated uncollectible accounts. 4. How much is Fossell Fashion Store’s estimated uncollectible accounts expense for the year? (Round the adjustment to the nearest whole dollar.) 5. User Insight: What role do estimates play in applying the aging analysis? What factors might affect these estimates?

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Customer Account Total Not Yet Due 1-30 31-60 61-90 Over Days Days Days 90 Days Past Due Past Due Past Due Past Due Balance Forward $793,791 $438,933 $149,614 $106,400 $57,442 $41,402 To finish the analysis, the following accounts need to be classified: Account J. Curtis Amount $10,977 Due Date Jan. 15 T. Dawson 9,314 Feb. 15 (next fiscal year) L. Zapata 8,664 Dec. 20 R. Copa 780 Oct. 1 E. Land 14,810 Jan. 4 S. Qadri 6,316 Nov. 15 A. Rosenthal 4,389 Mar. 1 (next fiscal year) $55,250