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Graded Worksheet-Ch8 in 2020, Stix Corp ended the year with the following balances related to its receivables (before any adjustment to true up the allowance
Graded Worksheet-Ch8 in 2020, Stix Corp ended the year with the following balances related to its receivables (before any adjustment to true up the allowance account). Accounts Receivable $ 458,200 Allowance for Doubtful Accounts $ 17,450 Stix Corp has the following aping related to its receivables Current (Not yet due) 1-30 days past due 31-60 days past due Over 60 days past due Amount $ 325,600 $ 89,200 S 32,800 $ 10,600 Estimated % Uncollectible 2% 5% 15% 30% 1) Calculate the amount of the estimated uncollectible receivables at December 31, 2020. NOTE: Show work for partial credit 2) Does the allowance account need to be increased or decreased? 3) What would be the amount of the Bad Debt Expense recorded in the adjustment for the allowance at 12/31/20
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