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Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due =
Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. Accounts not yet due = $275,000, estimated uncollectible = 5%. 2. Accounts 130 days past due = $34,400; estimated uncollectible = 9%. 3. Accounts 3190 days past due = $27,500; estimated uncollectible = 12% 4. Accounts more than 90 days past due = $20,600; estimated uncollectible = 16%. At 12/31/2021, before recording any adjustments, Zuo has a credit balance of $25,200 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2021 net accounts receivable balance. Required 1 Required 2 Required 3 Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. Balance in allowance for uncollectible accounts
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