Estimating doubtful accounts Outlaw Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Age Class Balance Percent Uncollectible Not past due $480,000 1/7% 1-30 days past due $2,800 4 24,000 6 31-60 days past due 61-90 days past due 91-180 days past due 17,300 16 12,500 38 Over 180 days past due 9.100 75 $595,700 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31. Estimated Estimated Uncollectible Accounts Uncollectible Accounts Percent Amount Balance Age Class 3480,000 1/29 Not past due 4 52 B00 1-30 days past due 6 24,000 31-60 days past due BM de $480,000 52,800 Not past due 1-30 days past due 31-60 days past due 61-90 days past due 1/2% 4 24,000 6 17.300 16 91-180 days past due 38 Over 180 days past due 12,500 9,100 75 $595,700 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31: Estimated Estimated Uncollectible Accounts Uncollectible Accounts Age Class Balance Percent Amount Not past due $480,000 1/29 1-30 days past dule 52,800 31-60 days past due 24,000 61.90 days past due 17.300 16 91-180 days past due 12 500 38 9,100 75 Over 180 days past due Total 3595,700 do 301 PM 3/21/2002 68F Clear