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need answer ASAP The following aging information pertains to Jacobsen Co.'s accounts receivable at December 31, 2021: Days Outstanding 0-30 31-60 61-120 Over 120 Amount
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The following aging information pertains to Jacobsen Co.'s accounts receivable at December 31, 2021: Days Outstanding 0-30 31-60 61-120 Over 120 Amount $426,000 146,000 106,000 126,000 Estimated % Uncollectible 2% 5% 10% 20% During 2021, Jacobsen wrote off $18,600 in receivables and recovered $6,600 that had been written off in prior years. Jacobsen's December 31, 2020, allowance for uncollectible accounts was $43,000. Using the balance sheet approach. what amount of allowance for uncollectible accounts should Jacobsen report at December 31, 2021? Multiple Choice $58,220 $29.200 Step by Step Solution
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