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How do I do this from Introduction to Financial accounting problem 6-68? Consider the following analysis of Accounts Receivable, February 28, 20X0: Name of Customer
How do I do this from Introduction to Financial accounting problem 6-68?
Consider the following analysis of Accounts Receivable, February 28, 20X0: Name of Customer Total Remarks 20% over 90 days 80% 61-90 days 75% 31-60 days 25% under 30 days 60% 61-90 days 40% 31-60 days All under 30 days 25% 61-90 days 75% under 30 days 50% under 30 days. 30% 31-60 days 15% 61-90 days, 5% over 90 days Akita Nurseries $25,000 Michael's Landscaping Rose's Garden Supply Loring Farm 8.000 12,000 20,000 4,000 Hjortshoj Florists Other accounts (each detailed) 80,000 Total $149.000 Prepare an aging schedule, classifying ages into four categories: 1-30 days, 31-60 days, 61-90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are.2%, .8%, 10%, and 85%, respectively. What is the ending balance in Allowance for Uncollectible AccountsStep by Step Solution
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