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Sweetwater Corporation has accounts receivable of $94,300 at March 31, 2018. An analysis of the accounts shows these amounts. Month of Sale March (current) February
Sweetwater Corporation has accounts receivable of $94,300 at March 31, 2018. An analysis of the accounts shows these amounts. Month of Sale March (current) February (1 - 30 days past due) December and January (31 - 90 days past due) (over 90 days past due) Balance, March 31 2018 2017 $65,200 $75,900 11,500 8,000 10,800 2,300 6,800 1,100 $94,300 $87,300 Credit terms are 2/10,n/30. At March 31, 2018, there is an unadjusted $2,300 credit balance in Allowance for Doubtful Accounts. The company uses the percentage of receivables by age category for estimating uncollectible accounts Sweetwater's estimates of bad debts are as shown below. Estimated Percentage Uncollectible 2% Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due 6% 30% 50% (a) Prepare an aging schedule to determine the total estimated uncollectibles at March 31, 2018. Accounts Receivable Amount % Estimated Uncollectible $ $ Current 1-30 days past due 31-90 days past due Over 90 days past due $
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