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Consider the following analysis of Accounts Receivable, February 28, 20XO: Click the icon to view the data.) Requirement 1. Prepare an aging schedule, classifying ages
Consider the following analysis of Accounts Receivable, February 28, 20XO: Click the icon to view the data.) Requirement 1. Prepare an aging schedule, classifying ages into four categories: 1 to 30 days, 31 to 60 days, 61 to 90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are 8%, 12%, 22%, and 40%, respectively. What is the ending balance in the Allowance for Uncollectible Accounts? Requirement 1. Prepare an aging schedule, classifying ages into four categories: 1 to 30 days, 31 to 60 days, 61 to 90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are 8%, 12%, 22%, and 40%, respectively. What is the ending balance in the Allowance for Uncollectible Accounts? Begin by preparing the aging schedule, then determine the allowance for each category and the resuling ending balance for the total Allowance for Uncollectible Accounts. (Leave unused cells blank. Round to the nearest whole dollar.)
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