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Calculate the bad debts from the following aging schedule- Schedule of Accounts Receivable by Age Customers Name Total Not yet due 1-30 days past due
Calculate the bad debts from the following aging schedule-
Schedule of Accounts Receivable by Age | ||||||
Customers Name | Total | Not yet due | 1-30 days past due | 31-60 days past due | 61-90 days past due | Over 90 days past due |
S. Milken | 12,000 | 5,000 | 3,000 | 2,000 | 1,000 | 1,000 |
F. Filip | 7,000 | 1,000 | 2,000 | 1,000 | 800 | 2,200 |
J. Riley | 14,000 | 8,000 | 3,000 | 2,000 | 100 | 900 |
R. Cash | 3,000 | 2,000 | 1,000 |
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L. Faraday | 8,000 | 1,000 | 7,000 |
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Totals | 44,000 | 17,000 | 16,000 | 5,000 | 1,900 | 4,100 |
Percent Uncollectible |
| 2% | 5% | 10% | 25% | 40% |
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