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gah! An aging analysis of Wildhorse Company's accounts receivable at December 31, 2020 and 2021. showed the following: Accounts Receivable Number of Days Outstanding 0-30
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An aging analysis of Wildhorse Company's accounts receivable at December 31, 2020 and 2021. showed the following: Accounts Receivable Number of Days Outstanding 0-30 days 31-60 days 61-90 days Over 90 days Total Estimated 96 Uncollectible 286 896 129 3086 2021 $98.000 24,500 49.000 73.500 $245.000 2020 $120.000 60.000 36.000 24.000 $240.000 Additional information: 1. At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts was a credit of $6.200. In 2021, $24.700 of accounts was written off as uncollectible and $2.700 of accounts previously written off was collected. 2. Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2020, and at December 31, 2021. 2020 Number of Days Outstanding Estimated Uncollectible Amount % 0-30 days $120.000 294 31-60 days 60,000 896 61-90 days 36,000 1296 24,000 Over 90 days 3094 Total $240,000 $ 2021 Number of Days Outstanding Estimated Uncollectible Amount % 0-30 days $98.000 296 S 31-60 days 24,500 894 61-90 days 49.000 1296 Over 90 days 73.500 3096 Total $245.000 $Step by Step Solution
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