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Finland Inc has the following Accounts Receivable Aging on March 31 Aging Bucket Current 1-90 days 91-180 days 181-365 days 366+ days Amount 300,000
Finland Inc has the following Accounts Receivable Aging on March 31 Aging Bucket Current 1-90 days 91-180 days 181-365 days 366+ days Amount 300,000 180,000 100,000 50,000 15,000 Outstanding March sales were $320,000 February ending balance in Allowance for Doubtful Accounts was $30,000 Credit Finland uses the Percentage of Receivables Method and a 5% reserve rate. What is the required reserve at the end of March? 3,200 15,000 32,250 3,000
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