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Oriole Company has accounts receivable of $101,124 at March 31, 2022. At March 31, 2022, there is a $2,226 balance in Allowance for Doubtful Accounts
Oriole Company has accounts receivable of $101,124 at March 31, 2022. At March 31, 2022, there is a $2,226 balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The companys estimates of bad debts are as shown below.
Balance, March 31 | Estimated Percentage | ||||||
---|---|---|---|---|---|---|---|
Age of Accounts | 2022 | 2021 | Uncollectible | ||||
Current | $68,900 | $79,500 | 2 | % | |||
130 days past due | 13,700 | 8,480 | 5 | ||||
3190 days past due | 10,680 | 2,544 | 30 | ||||
Over 90 days past due | 7,844 | 1,166 | 50 | ||||
$101,124 | $91,690 |
Determine the total estimated uncollectibles.
The total estimated uncollectibles | $enter the total estimated uncollectibles in dollars: $_______ |
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