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Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class Not past due 1-30 days
Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due Percent Uncollectible 2% 5 25 35 50 Over 90 days past due Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Aging of Receivables Schedule Customer Subtotals Balance Not Past Due 819,900 483,700 73,800 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due 180,400 41,000 Conover Industries. 13,600 41,000 13,600 Keystone Company 15,800 15,800 Moxie Creek Inc. 9,000 9,000 Rainbow Company 10,000 10,000 Swanson Company 29,200 29,200 Totals 897,500 512,900 Percentage uncollectible 2% 190,400 5% 82,800 56,800 54,600 25% 35% 50% Allowance for Doubtful Accounts
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