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The following information pertains to Jacobsen Co.'s accounts receivable at December 31, 2011: Days outstanding $ amount Est. % uncollectible 0-30 $420,000 2% 31-60 $140,000
The following information pertains to Jacobsen Co.'s accounts receivable at December 31, 2011:
Days outstanding $ amount Est. % uncollectible
0-30 $420,000 2%
31-60 $140,000 5%
61-120 $100,000 10%
120+ $120,000 20%
During 2019, Jacobsen wrote off $18,000 in receivables and recovered $6,000 that had been written off in prior years. Jacobsen's December 31, 2010, allowance for uncollectible accounts was $40,000. Under the aging method, what amount of allowance for uncollectible accounts should Jacobsen report at December 31, 2019?
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