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1. Summit Industries has a past history of uncollectible accounts, as shown below. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise 9-8.
Percent
Age Class Uncollectible
Not past due 1%1-30 days past due 631-60 days past due 2061-90 days past due 35Over 90 days past due 50
Process costing would be most applicable
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