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Exercise 9-4 (Part Level Submission) Menge Company has accounts receivable of $110,900 at March 31. Credit terms are 2/10, n/30. At March 31, Allowance for
Exercise 9-4 (Part Level Submission) Menge Company has accounts receivable of $110,900 at March 31. Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,300 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below. Age of Estimated Balance, Percentage March 31 Uncollectible Accounts 4% 7% 1-30 days 31-60 days 61-90 days Over 90 days $75,100 19,000 8,600 8,200 110,900 24% 55% (a) Determine the total estimated uncollectibles. Total estimated uncollectibles $
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