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Required information (The following information applies to the questions displayed below. Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services
Required information (The following information applies to the questions displayed below. Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $585,000. Of this amount, $75,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below. Age Group Not yet due 0-90 days past due 91-180 days past due More than 180 days past due Total Amount Receivable $35,000 15,500 10,500 14,000 $75,000 Estimated Percent Uncollectible 3% 15% 20% 85% Required: 1. Calculate the allowance for uncollectible accounts. Age Group Estimated Amount Uncollectible Not yet due 0-90 days past due 91-180 days past due More than 180 days past due Total
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