Age of Account Receivable B 180,000 80,000 40,000 $1,100,000 The allowance for uncollectible accounts has an existing positive balance of $34,200. The company'slemi auditors suggest that the following percentages be used to estimate the amount of outstandingeccivaeB will eventually prove to be uncollectible. t0 100 Required 1. Calculate the projected new balance for (a) the allowance for uncollectible accounts 2. Why is there an existing balance of $34,200 in the and (h the expense. be inferred if the existing balance in the allowance for uncollectible accounts $34,200? allowance for uncollectible accounts was a negative (c) the interest implicit in the ee-yep Ol tel percent) Aging of Accounts Receivable. by age category: The Miller Company's accounts receivable reveal the following 26 Age of Account Receivable Balance 180,000 80,000 40,000 $1,100,000 61-90 days. The allowance for uncollectible accounts has an existing positive balance of $34,200. The company's inema auditors suggest that the following percentages be used to estimate the amount of outstanding receivabls thur will eventually prove to be uncollectible. 0.5% 1.0 10.0 700 Required 1. Calculate the projected new balance for (a) the allowance for uncollectible accounts and (b) the bad debes expense. 2. Why is there an existing balance of $34,200 in the allowance for uncollectible acctsof be inferred if the existing balance in the allowance for uncollectible accounts was a negat e24 nono