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Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 1 % 1-30 days past due 3
Evers Industries has a past history of uncollectible accounts, as follows.
Age Class | Percent Uncollectible | |
Not past due | 1 | % |
1-30 days past due | 3 | |
31-60 days past due | 12 | |
61-90 days past due | 30 | |
Over 90 days past due | 75 |
Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the chart below.
Balance | Not Past Due | Days Past Due 1-30 | Days Past Due 31-60 | Days Past Due 61-90 | Days Past Due Over 90 | |
Total receivables | 1,124,500 | 607,400 | 233,000 | 121,600 | 96,500 | 66,000 |
Percentage uncollectible | 1% | 3% | 12% | 30% | 75% | |
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 |
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