Question
Sweet Acacia Industries uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end. Calculate
Sweet Acacia Industries uses the allowance method of accounting for bad debts. The company produced the following aging of the accounts receivable at year-end.
Calculate the total estimated bad debts based on the information below.
Number of Days Outstanding
Total
0-30
31-60
61-90
91-120
Over 120
Accounts receivable
$416,000$241,000$93,000$47,000$22,000$13,000% uncollectible
1%4%5%8%11%Estimated bad debts
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
$enter estimated bad debts in dollars
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