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A company ages their accounts receivable balance and reports the following: Past Due Balance Estimated Uncollectible 0 $5,000 1% 1-30 $3,000 5% 31-60 $2,000 10%
A company ages their accounts receivable balance and reports the following: Past Due Balance Estimated Uncollectible 0 $5,000 1% 1-30 $3,000 5% 31-60 $2,000 10% Over 60 $1,000 30% Total $11,000 n/a The balance in the allowance for uncollectible accounts before the adjustment is $300 credit. Determine the amount to be charged to Uncollectible Accounts Expense using the aging method: Multiple choice question. $400 $700 $1,100
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