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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. Balance, March 31 Age of Accounts 2022 2021 Estimated Percentage Uncollectible 2 % Current $60,300 14.100 10,800 1-30 days past due 31-90 days past due Over 90 days past due 5 $67,720 7,600 2,580 1.120 $79,020 32 7.500 55 $92,700 (a) Determine the total estimated uncollectibles at March 31, 2022. Total estimated uncollectibles $
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