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Question 6 Homework Unanswered A company is owed $400,000 in accounts receivable. Of the $400,000: $270,000 has not come due, $80,000 is 1- 30 days
Question 6 Homework Unanswered A company is owed $400,000 in accounts receivable. Of the $400,000: $270,000 has not come due, $80,000 is 1- 30 days overdue, $25,000 is 31-60 days overdue,$15,000 is 61-90 days overdue, and $10,000 is overdue by over 90 days. This company believes that 2% of the accounts that have not come due is uncollectable, that 4% of the accounts that are 1-30 days overdue,is uncollectable, that 5% of the accounts that are 31-60 days overdue is uncollectable, that 8% of the accounts that are 61-90 days overdue is uncollectable, and that 10% of the accounts that are overdue by over 90 days is uncollectable. Using this information and the aging of accounts receivable method, please calculate the balance for the allowance for doubtful accounts for this year. Type your numeric answer and submit
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