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Duncan Corporation uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 4% uncollectible rate. Accounts
Duncan Corporation uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 4% uncollectible rate. Accounts more than 60 days are considered old and have a 25% uncollectible rate. Duncan's Allowance for doubtful accounts currently has an unadjusted credit balance of $2,500 If Duncan has 895,400 of young accounts and 89,800 of old accounts, how much should be reported in the adjusted Allowance for doubtful accounts
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