Vandalay Industries has a past history of uncollectible accounts, as shown below. Estimate the allowance for doubtful accounts, based on the aging-of-receivables schedule you completed in Exercise 8-8.

Transcribed Image Text:

Percent Age Class Uncollectible Not past due 3% 1-30 days past due 5 31-60 days past due 15 61-90 days past due 25 Over 90 days past due 40