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Compute the required balance of the Allowance for Uncollectible Accounts for the following receivables: Accounts Receivable: $280,000 - Age is less than 1 month -
Compute the required balance of the Allowance for Uncollectible Accounts for the following receivables:
Accounts Receivable: $280,000 - Age is less than 1 month - Probability of Noncollecting 3% Accounts Receivable: $90,000 - Age is 1-3 - Probability of Noncollecting 15 % Accounts Receivable: $40,000 - Age is 3-6 - Probability of Noncollecting 25 % Accounts Receivable: $22,000 - Age is 6-9 - Probability of Noncollecting 60% Accounts Receivable: $2,250 - Age is 9-12 - Probability of Noncollecting 90%
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