Question
Stine Company has accounts receivable of $99,000 at March 31, 2014. An analysis of the accounts shows these amounts. Balance, March 31 Month of Sale
Stine Company has accounts receivable of $99,000 at March 31, 2014. An analysis of the accounts shows these amounts. Balance, March 31 Month of Sale 2014 2013 March $68,100 $71,300 February 12,300 7,600 December and January 10,900 3,400 November and October 7,700 1,800 $99,000 $84,100 Credit terms are 2/10, n/30. At March 31, 2014, there is a $3,000 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The companys estimates of bad debts are as shown below. Age of Accounts Estimated Percentage Uncollectible Current 2 % 130 days past due 6 3190 days past due 27 Over 90 days past due 53 Determine the total estimated uncollectibles. The total estimated uncollectibles $
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