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Wildhorse Company has accounts receivable of $92,100 at March 31, 2025. Credit terms are 2/10, n/30. At March 31, 2025, there is a $2,100 credit
Wildhorse Company has accounts receivable of $92,100 at March 31, 2025. Credit terms are 2/10, n/30. At March 31, 2025, there is a $2,100 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Balance, March 31 2025 $63,500 11,700 10,300 6,600 2024 $80,330 7,610 2,480 1,030 $92,100 $91,450 Estimated Percentage Uncollectible 2 % 5 31 51
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