Background information: Goofy and Friends had the following balances at the various ages $1,200,000 less than 30 days old
$700,000 31-60 Days old, $200,000 61-120 Days old and $25,000 over 120 days. Goofy is assuming he will collect 98% of balances
less than 30 days old, 90% of balance 31-60 days old, 75% of balances 61-120 days old and 50% of balances over 120 days.
Complete the following chart
a)
Age:	Balance:	Estimated % uncollectible	Estimated Amount Uncollectible
0-30 Days
31 to 60 Days
61-120 Days
over 120 Days
Accounts Receivable
Less: Allowance for Uncollectible