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Question 24 An aging analysis of Blossom Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Estimated
Question 24 An aging analysis of Blossom Company's accounts receivable at December 31, 2020 and 2021, showed the following: Accounts Receivable Number of Days Estimated % Outstanding Uncollectible 2021 2020 0-30 days 1% $94,000 $115,000 31-60 days 5% 23,500 57,500 61-90 days 12% 47.000 34,500 Over 90 days 25% 70,500 23,000 Total $235,000 $230,000 Additional information: 1. At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts was a credit of $5,600. In 2021. $23,500 of accounts was written off as uncollectible and $2,200 of accounts previously written off was collected. 2 Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2020, and at December 31, 2021. 2020 Number of Days Outstanding Estimated Uncollectible Amount 96 $115,000 1% 0-30 days Prepare an aging schedule to calculate the estimated uncollectible accounts at December 31, 2020, and at December 31, 2021 2020 Number of Days Outstanding 0-30 days Estimated Uncollectible Amount $115,000 $ 31-60 days 57,500 5% 61-90 days 34,500 12% Over 90 days 23,000 259 Total $230,000 Estimated Uncollectible 2021 Number of Days Outstanding 0-30 days 31-60 days Amount 594,000 1 23,500 59 61-90 days 47,000 70.500 Over 90 days
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