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Exercise 8-4 (Part Level Submission) Clinton Ltd. has an Accounts Receivable amount of $367,300 and an unadjusted credit balance in Allowance for Doubtful Accounts of
Exercise 8-4 (Part Level Submission) Clinton Ltd. has an Accounts Receivable amount of $367,300 and an unadjusted credit balance in Allowance for Doubtful Accounts of $8,800 at March 31. The company's accounts receivable and percentage estimates of its uncollectible accounts are as follows Number of Days Outstanding 0-30 31-60 61-90 Over 90 Total Accounts Estimated Percentage Receivable $254,000 53,000 33,000 27,300 $367,300 Uncollectible 296 10% 30% 50% (a) Prepare an aging schedule to determine the total estimated uncollectibles at March 31. Estimated Uncollectible Age of Amount % 0-30 days 31-60 days 61-90 days Over 90 days $254,000 53,000 33,000 27,300 2% 10% 30% 50%
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