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Determine the total estimated uncollectibles

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Question - Blue Company has accounts receivable of $116,800 at March 31, 2020. Credit terms are 2/10, n/30. At March 31, 2020, there is a $1,400 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 estimate of bad debts is shown below

Age of Accounts

Balance, March 31

Estimated Percentage Uncollectible

2020

2019

Current

$77,300

$75,000

3%

1-30 days past due

22,900

8,000

5%

31-90 days past due

9,400

2,400

24%

Over 90 days past due

7,200

1,100

54%

 

$116,800

$86,500

 

Required - Determine the total estimated uncollectibles.

Reference no: EM132693464

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