Merry Co. sells Christmas angels. Merry determines that at the end of December, they have the following aging schedule of Accounts Receivable:

 

(a) Compute the total estimated uncollectible amounts.

(b) Compute the net receivables based on the above information at the end of December (There was no beginning balance in the Allowance for Doubtful Accounts).

Customer Total Not yet due Number of Days Past Due 31-60 1-30 61-90 Over 90 . rant D. Eaton S Klein C. Sheen $500 $300 $200 300 100 200 150 50 100 200 200 ? 300 300 250 200 100 % uncollectible 1% 5% 10% 25% 50% Total Estimated Uncollectible Amounts