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E16 Computing Bad Debt Expense Using Aging of Accounts Receivable Method[l82] Young and Old Corporation (YOC) uses two aging categories to estimate uncollecible accounts. Accounts
E16 Computing Bad Debt Expense Using Aging of Accounts Receivable Method[l82] Young and Old Corporation (YOC) uses two aging categories to estimate uncollecible accounts. Accounts less than 60 days are considered young and have a 4% unollectible rate. Accounts more than 60 drs are considered old and have a 35% uncollectee rate Required: 1. If YOC has $101,000 of young accounts and $410,000 of old accounts, how much should be reported in the Allowance for Doubtlul Accounts? 2. It YOCS Allowance for Doubtful Accounts currenty has an una usted credt balance of $41,000, how much shouid be credrted to the account? 3. It YOC's Allowance for Doubtful Accounts has an unacjusted deot baiance of 35.100 no much shoud be credned to the account to be Cr
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