Estimating Allowance for Doubtful Accounts

Quigley 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	20
61-90 days past due	30
Over 90 days past due	45

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

Quigley Industries
Aging-of-Receivables Schedule
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		563,700		332,600		124,000		50,700		28,200		28,200
Beltran Industries		16,200										16,200
Doodle Company		16,900								16,900
La Corp Inc.		6,500						6,500
VIP Sales Company		11,000				11,000
We-Go Company		23,100		23,100
Totals		637,400		355,700		135,000		57,200		45,100		44,400
Percentage uncollectible				1%		5%		20%		30%		45%
Allowance for Doubtful Accounts