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Tri Town Corporation has accounts receivable of $93,900 at March 31, 2018. An analysis of the accounts shows these amounts. Balance, March 31 2018 2017
Tri Town Corporation has accounts receivable of $93,900 at March 31, 2018. An analysis of the accounts shows these amounts. Balance, March 31 2018 2017 $65,300 $73,900 Month of Sale March (current) February (1 - 30 days past due) December and January (31 - 90 days past due) (over 90 days past due) 11,400 7,400 9,700 2,600 7.500 1,100 $93,900 $85,000 Credit terms are 2/10, n/30. At March 31, 2018, there is an unadjusted $2,600 credit balance in Allowance for Doubtful Accounts. The company uses the percentage of receivables by age category for estimating uncollectible accounts Tri Town'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% Prepare an aging schedule to determine the total estimated uncollectibles at March 31, 2018. Accounts Receivable Amount % Estimated Uncollectible $ 65300 2 $ Current 1306 11400 5 570 1-30 days past due 9700 30 2910 31-90 days past due 7500 50 3750 Over 90 days past due $ 8536
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