Receivables Exercise 18 Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below. Age Class Percent Uncollectible Not past due 2% 1-30 days past due 5 31-60 days past due 20 61-90 days past due 30 Over 90 days past due 45 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Customer Kirchhoff Industries Aging of Receivables Schedule Not Past 1-30 Days 31-60 Days 61-90 Days Over 90 Days Balance Subtotals Due 743,800 438,800 Past Due Past Due Past Due Past Due 163,600 66,900 37,200 37,300 Conover Industries 17,600 17,600 Keystone Company 17,500 17,500 Moxie Creek Inc. 10,000 10,000 Rainbow Company 10,600 10,600 Swanson Company 27,300 27,300 Total receivables 826,800 466,100 174,200 76,900 54,700 Percentage uncollectible 2% 5% 20% 30% 54,900 45% Allowance for Doubtful Accounts