Makeup of Current Assets Cash Accounts Receivable Inventory Supplies Accounts Receivable by Age Over 90 days past due 61-90 days past due 31-60 days past due 1-30 days past due Not yet due $0 $200,000 $400,000 $600,000 $800,000 Accounts Receivable ($) Accounts Receivable ($) Percent Uncollectible by Age Makeup of Total Sales 70% Cash Sales 60% 5096 4096 Estimated Percent Uncollectible 3096 Credit Sales 20% Percent Uncollectible by Accounts 10% 0% 1% Not yet due 1-30 days past due 31-60 days past due Credit Sales Accounts Receivable 61-90 days Over 90 days past due past due 59 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. Req3 Reg 1 and 2 Estimate the balance of the Allowance for Doubtful Accounts using aging of accounts receivable. Assume a $0 existing balance in Allowance for Doubtful Accounts Accounts Percent receivable uncollectible (%) Not yet due X 1 to 30 x 31 to 60 61 to 90 Over 90 X Estimated balance of allowance for uncollectibles