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Teocalli Burritos owns a fleet of food delivery trucks that provide food services to a variety of local entertainment events. Management for the company provided
Teocalli Burritos owns a fleet of food delivery trucks that provide food services to a variety of local entertainment events. Management for the company provided you the following information pertaining to the accounts receivable aging schedule. Required: Using the percent of receivables method, what amount will Teocalli Burritos estimate as uncollectible accounts expense? Number of Days Past Due Current 0-30 31-60 61-90 Over 90 days Total Amount $ 826,000 266,000 136,000 91,000 36,000 Percent Uncollectible Accounts Expense 1% Uncollectible 3% 10% 30% 60%
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