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could someone explain this plz Question 22 (1 point) The following selected information is from Imagine Corporation's partial aging schedule in fiscal year 2015. To
could someone explain this plz
Question 22 (1 point) The following selected information is from Imagine Corporation's partial aging schedule in fiscal year 2015. To determine the adjusted allowance for doubtful accounts, the company uses each percentage of uncollectible Accounts Receivables based on different classifications of the number of outstanding days. Number of Days Outstanding 0-30 days Accounts Receivable Estimated Percentage Uncollectible 1% $110,000 31-60 days 50,000 5% 61-90 days 20,000 20% 12,500 50% Over 90 days Total $192,500 The unadjusted balance in Allowance for Doubtful Accounts is a credit balance of $5,000 at the end of the year of 2015. In the following year of 2016, $3,000 of the outstanding receivables is determined to be uncollectible. Subsequent to the write-off of accounts receivables in 2016, what is the net carrying amount of Accounts Receivable? For your answer, make sure to put the number without dollar signs ($), commas (,), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345Step by Step Solution
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