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A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: 1-30 days $60,000 1% 31-60 days $40,000 3% 61-90 days $20,000 10%
A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following: 1-30 days $60,000 1% 31-60 days $40,000 3% 61-90 days $20,000 10% Over 90 days $5,000 50% The credit balance in Allowance for Uncollectible Accounts was $5,700. Under aging-of-receivables method, the balance in the Allowance for Uncollectible Accounts will be ________ after the adjusting entry is made. A) $1,500 B) $4,100 C) $5,300 or D) $6,300
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