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During a recent year, Snick's Board Shop had sales on account of $45,000, collections of $45,500, write-offs of $800, a beginning balance in accounts receivable

During a recent year, Snick's Board Shop had sales on account of $45,000, collections of $45,500, write-offs of $800, a beginning balance in accounts receivable of $5,000, and a beginning balance in the allowance for uncontrollable accounts of $300. At year end $2,400 of accounts receivable were current, $700 were 0-30 days past due, $300 were 31-60 days past due, $200 were 61-90 days past due, and $100 were over 90 days past due. The company believes 1.5% of sales will not be collected. They also have experience suggesting that 2% of all current receivables, 11% of receivables 0-30 days past due, 16% of receivables 31-60 days past due, 25% of receivables 61-90 days past due, and 50% of receivables over 90 days past due will not be collected. Using the file ch7-12, complete the allowance for uncollectable accounts analysis for both standard methods.

from chapter 7-page 185 in Using Microsoft Excel & Access for Accounting 2016 by Glenn Owen

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Snick's Board Shop Ch 7-12 Allowance for Uncollectible Accounts Aging Method Information Current 0 - 30 Days Past Due 31 - 60 Days Past Due 61 - 90 Days Past Due > 90 Days Past Due Total Facts: Accounts receivable balance (beg) Sales on account Collections on account Write-offs of accounts receivable Accounts receivable balance (end) Percentage of Sales Method Allowance for uncollectible accounts (beg) Write-offs of accounts receivable Uncollectible accounts expense Allowance for Uncollectible accounts (end) Aging Method Allowance for uncollectible accounts (beg) Write-offs of accounts receivable Uncollectible accounts expense Allowance for uncollectible accounts (end) Past experience ratio for % of sales method Amount Past experience ratio

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