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Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance
Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $42,470 and $3,290, respectively. During the year, the company wrote off $2,540 in uncollectible accounts. In preparation for the company's Year 2 estimate, Domino prepared the following aging schedule: Number of days Receivables Likely to be past due Current 0-30 31-60 61-90 Over 90 Total uncollectible 18 58 108 25% 508 amount 65,000 25,600 6,260 3,120 2,800 $102,780 What will Domino record as Uncollectible Accounts Expense for Year 2 Multiple Choice $1,446
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