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Determine the total estimated uncollectibles and indicate the amount to record as bad debt expense on March 31, 2022. Show Attempt History Current Attempt in
Determine the total estimated uncollectibles and indicate the amount to record as bad debt expense on March 31, 2022.
Show Attempt History Current Attempt in Progress Coronado Industries has accounts receivable of $85,860 at March 31, 2022. At March 31, 2022, there is a $1,890 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 Estimated Percentage Age of Accounts 2022 2021 Uncollectible Current $58,500 $67,500 2 % 1-30 days past due 11,620 7,200 5 31-90 days past due 9,080 2,160 30 Over 90 days past due 6,660 990 50 $85,860 $77,850 (a) Your answer is incorrectStep by Step Solution
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