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ces Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted
ces Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $15,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 820,000 328,000 Age of Accounts Receivable Not yet due Expected Percent Uncollectible 1.20% 1 to 30 days past due 1.95 65,600 31 to 60 days past due 6.45 32,800 13,120 61 to 90 days past due 32.50 Over 90 days past due 67.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Not due: 1 to 30 31 to 60 61 to 90 Over 90 Accounts Receivable X Percent Uncollectible (8.8%) Estimated Uncollectible Estimated balance of allowance for uncollectibles $ 0
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