Estimating Allowance for Doubtful Accounts

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

Age Class	Percent Uncollectible
Not past due	2%
1-30 days past due	6
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.

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	756,900	446,600	166,500	68,100	37,800	37,900
Conover Industries	19,800					19,800
Keystone Company	18,100				18,100
Moxie Creek Inc.	6,400			6,400
Rainbow Company	9,500		9,500
Swanson Company	23,200	23,200
Totals	833,900	469,800	176,000	74,500	55,900	57,700
Percentage uncollectible		2%	6%	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

Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Aging of Receivables Schedule