Question
Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 2% 130 days past due 6 3160
Evers Industries has a past history of uncollectible accounts, as follows.
Age Class | Percent Uncollectible |
Not past due | 2% |
130 days past due | 6 |
3160 days past due | 18 |
6190 days past due | 36 |
Over 90 days past due | 76 |
Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the Aging of Receivables Schedule page.
Estimate the allowance for doubtful accounts, based on the aging of receivables information provided below.
Evers Industries |
Estimate of Allowance for Doubtful Accounts |
1 | Days Past Due | Days Past Due | Days Past Due | Days Past Due | |||
2 | Balance | Not Past Due | 1-30 | 31-60 | 61-90 | Over 90 | |
3 | Total receivables | 1,140,600.00 | 614,900.00 | 229,600.00 | 118,200.00 | 105,300.00 | 72,600.00 |
4 | Percentage uncollectible | 2.0% | 6.0% | 18.0% | 36.0% | 76.0% | |
5 | Allowance for doubtful accounts |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started