Estimating Allowance for Doubtful Accounts

Kirchhoff Industries has a past history of uncollectible accounts, as shown below.

Age Class	Percent Uncollectible
Not past due	1%
1-30 days past due	5
31-60 days past due	25
61-90 days past due	35
Over 90 days past due	50

Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below.

Kirchhoff Industries Aging of Receivables Schedule blank

Customer	Balance	Not Past Due	1-30 Days Past Due	31-60 Days Past Due	61-90 Days Past Due	Over 90 Days Past Due
Subtotals	587,900	346,900	129,300	52,900	29,400	29,400
Conover Industries	12,900					12,900
Keystone Company	17,300				17,300
Moxie Creek Inc.	5,200			5,200
Rainbow Company	9,100		9,100
Swanson Company	29,300	29,300
Total receivables	661,700	376,200	138,400	58,100	46,700	42,300
Percentage uncollectible		1%	5%	25%	35%	50%
Allowance for Doubtful Accounts	fill in the blank 1	fill in the blank 2	fill in the blank 3	fill in the blank 4	fill in the blank 5	fill in the blank 6