make up of Current Assets Cash = $752,000 AR = $1,220,000 Invent = $1,700,000 supplies $470,000 Accounts Receivable by Age Over 90 Days = $12, ovo 61-90 past Due- $38,000 31-60 past Due- $86,000 Maue of Total Saw 30 past Que = $254,000 Not yet Due - $830,000 Percent Uncollectable by Age Over 90= 61-90 = 334 31-60 = 77 - 30 37: Not yet due = 2% Cash Sales = $2,250,000 Credit Sales = $7. 150,ooo Percent Uncollectible by Accounts Credit Sales = Accounts receivable = 5%. 1. Estimate the balance of the Allowance for Doubtful Accounts using percent of sales method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for credit sales. 2. Estimate the balance of the Allowance for Doubtful Accounts using percent of receivables method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for accounts receivable, 3. Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 1. Estimate the balance of the Allowance for Doubtful Accounts using percent of sales method. Assume a $0 existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for credit sales. 2. Estimate the balance of the Allowance for Doubtful Accounts using percent of receivables method. Assume a $o existing balance in Allowance for Doubtful Accounts. Hint: Identify the percent of uncollectible for accounts receivable. Show less 1. Estimate the balance of the Allowance for Doubtful Accounts 2. Estimate the balance of the Allowance for Doubtful Accounts Selang Reg 3 > Print Complete this question by entering your answers in the tabs below. orences Req 1 and 2 Ret3 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 exis in Allowance for Doubtful Accounts. Accounts Percent receivable uncollectible (%) Not yet due: 1 to 30 31 to 60 61 to 90: Over 90 Estimated balance of allowance for uncollectibles