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Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit
Required information [The following information applies to the questions displayed below.] On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $16,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 840,000 Age of Accounts Receivable Not yet due 1 to 30 days past due Expected Percent Uncollectible 1.25% 336,000 2.00 67,200 31 to 60 days past due 6.50 33,600 13,440 61 to 90 days past due Over 90 days past due 32.75 68.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. II II Accounts Receivable Percent Uncollectible (#.##%) Not due: 1 to 30: 31 to 60: 61 to 90: Over 90: Estimated balance of allowance for uncollectibles Estimated Uncollectible = II II
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