Exercise $7-15($Algo$)$ Calculate uncollectible accounts using the aging method; record adjustments $[$LO$7-$

$5,7-6$

Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible

accounts.

Accounts not yet due $=$$$271,000$; estimated uncollectible $=15\%.$

Accounts $1-30$ days past due $=$$$33,900$; estimated uncollectible $=18\%.$

Accounts $31-90$ days past due $=$$$27,100$; estimated uncollectible $=21\%$

Accounts more than $90$ days past due $=$$$20,300$; estimated uncollectible $=25\%.$

At $\frac{12}{31}\frac{?}{2024},$ before recording any adjustments, Zuo has a credit balance of $$20,300$ in its allowance for uncollectible accounts.

Required:

Estimate the appropriate $\frac{12}{31}\frac{?}{2024}$ balance for Zuo's allowance for uncollectible accounts.

What journal entry should Zuo record to adjust its allowance for uncollectible accounts?

Calculate Zuo's $12/31/2024$ net accounts receivable balance.

Complete this question by entering your answers in the tabs below.

Estimate the appropriate $12/31/2024$ balance for Zuo's allowance for uncollectible accounts.