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Flint Corporation uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. (a) Calculate
Flint Corporation uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. (a) Calculate the total estimated bad debts based on the information below. Numbe Total 0-30 31-60 Accounts receivable $537,000 $376,000 $85,000 % uncollectible Estimated bad debts $ $ 1% A 4% A Number of Days Outstanding $ 61-90 $48,000 5% $ 91-120 Over 120 $18,000 9% $ $10,000 11%
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