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Menge Company has accounts receivable of $113,300 at March 31. Menge Company has accounts receivable of $113,300 at March 31 Average Age Balance, of Receivables
Menge Company has accounts receivable of $113,300 at March 31.
Menge Company has accounts receivable of $113,300 at March 31 Average Age Balance, of Receivables Month of Sale March February January Prior to January March 31 $76,100 19,800 9,600 7,800 113,300 Outstanding 16 days 48 days 73 days 110 days Credit terms are 2/10, n/30. At March 31, Allowance for Doubtful Accounts has a credit balance of $1,500 prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimate of bad debts is shown below Age of Accounts 1-30 days 31-60 days 61-90 days Over 90 days Estimated Percentage Uncollectible 2.0% 6.0% 25.0% 51.0% (a) Your answer is correct. Determine the total estimated uncollectibles. Total estimated uncollectibles 9088Step by Step Solution
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