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9:10 Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted
9:10 Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Expected 360,000 Accounts Receivable $ 900,000 Age of Accounts Receivable Not yet due 1 to 30 days past due Percent Uncollectible 1.25% 2.00 72,000 31 to 60 days past 6.50 due 36,000 61 to 90 days past 32.75 due 14,400 Over 90 days past 68.00 due Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Accounts Receivable Percent Uncollectible (#.##%) Estimated Uncollectible Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles
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