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Formula: 1. , = , % 2. = , , 3. = , , Apple Company reported the following balances as of December 31, 2020,

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Formula:

1. , = , %

2. = , ,

3. = , ,

Apple Company reported the following balances as of December 31, 2020, before any year-end adjustments: Accounts receivable 5,000,000 Allowance for doubtful accounts 150,000 The aging of accounts receivable as of December 31, 2020, are provided below: Outstanding Accounts receivable Expected uncollectible 2,500,000 0% 5% 1,500,000 400,000 10% 0 days 1 - 30 days 31 - 60 days 61-90 days 91 - 120 days Over 120 days 15% 300,000 200,000 20% 100,000 25% Compute for the following: 7. Allowance for doubtful accounts as of December 31, 2020 8. Doubtful accounts expense on December 31, 2020 9. Carrying amount of the accounts receivable as of December 31, 2020

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