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Cullumber Company has accounts receivable of $92,700 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,196 credit
Cullumber Company has accounts receivable of $92,700 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,196 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2022 $60,300 $67,720 14,100 10,800 7,500 $92,700 2021 Total estimated uncollectibles $ 7,600 2,580 1,120 $79,020 Estimated Percentage Uncollectible Determine the total estimated uncollectibles at March 31, 2022. 2% 5 32 55 Cullumber Company has accounts receivable of $92,700 at March 31,2022 . Credit terms are 2/10,n/30. At March 31,2022 , there is a $2,196 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles
Cullumber Company has accounts receivable of $92,700 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,196 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2022 $60,300 $67,720 14,100 10,800 7,500 $92,700 2021 Total estimated uncollectibles $ 7,600 2,580 1,120 $79,020 Estimated Percentage Uncollectible Determine the total estimated uncollectibles at March 31, 2022. 2% 5 32 55
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