Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 2% 4 18 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due 40 75 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Estimate the Allowance for Doubtful Accounts Subtotals Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Not Past Days Past Days Past Days Past Days Past Balance Due Due 1-30 Due 31-60 Due 61-90 Due Over 90 $1,050,000 $600,000 $220,000 $115,000 $85,000 $30,000 30,000 30,000 18,000 18,000 9,000 9,000 26,400 26,400 Previou Check My Work 40 61-90 days past due Over 90 days past due 75 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Estimate the Allowance for Doubtful Accounts Days Past Days Past Days Past Due 31-60 Due 61-90 Due Over 90 $115,000 $85,000 $30,000 30,000 18,000 9,000 Not Past Days Past Balance Due Due 1-30 $1,050,000 $600,000 $220,000 30,000 18,000 9,000 26,400 26,400 46,600 46,600 1,180,000 626,400 266,600 4% Subtotals Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company Total receivables Percentage uncollectible 124,000 18% 103,000 40% 60,000 75% 2% Allowance for doubtful accounts Pre neck My Work