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Maverson Company uses the aging method to adjust the allowance for uncollectible accounts at the end of the period. (Click the icon to view
Maverson Company uses the aging method to adjust the allowance for uncollectible accounts at the end of the period. (Click the icon to view additional information.) The net receivables on the balance sheet are 8900 Reference Aging group Amount Percentage uncollectible (%) Allowance for uncollectible accounts Current $ 130,000 2% $ 2,600 60 days past due Over 60 days past due 75,000 8% 6,000 5,000 1,050 21% $ 210,000 Total $ 9,650 Print Done --- Maverson calculated the allowance for uncollectible accounts at the end of the period. (Click the icon to view calculation.) The net receivables on the balance sheet as of December 31, 2021, are Data table At December 31, 2021, the balance of accounts receivable is $210,000 and the allowance for uncollectible accounts has a credit balance of $5,000 (before adjustment). An analysis of accounts receivable produced the following aging groups: Current $ 130,000 60 days past due 75,000 5,000 Over 60 days past due $ 210,000 Total Based on past experience, Maverson estimates that the percentage of accounts that will prove to be uncollectible within the three age groups is 2% of the current balance, 8% of the 60 days past due balance, and 21% of the over 60 days past due balance. Print Done
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