Try another version of these questions The accounts receivable clerk for Maria Enterprises prepared the following partially completed aging of receivables schedule as of the end of business on November 30: The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above. Determine the number of days past due for each account and complete the aging of receivables by adding the omitted accounts. Maria Enterprises has a past history of uncollectible accounts. Estimate the allowance for doubtful accounts based on the aging of receivables below. Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 Abbott Inc. $2,500 $2,500 Account Co. $4,600 $4,600 ... ... ... ... ... ... ... ZZZ Corp. $4,800 $4800 Subtotals $826,700 $501,200 $175,500 $80,900 $44,300 $24,800 Customer Balance Due Date Days Past Due Buffalo-B Inc. $12,800 July 4 Doodle-Do Co. $8,900 Sept. 28 Le'Veon Corp. $16,800 Oct. 15 Vinny Industries $10,400 Nov. 4 We-Win Company $22,100 Dec. 28 Not Past Due Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 Abbott Inc. $2,500 $2,500 Account Co. $4,600 $4,600 ... ... ... ... ... ... ... ZZZ Corp. $4,800 $4800 Subtotals $826,700 $501,200 $175,500 $80,900 $44,300 $24,800 Buffalo-B Inc. Doodle-Do Co. Le'Veon Corp. Vinny Industries We-Win Company TOTALS Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 Abbott Inc. $2,500 $2,500 Account Co. $4,600 $4,600 ... ... ... ... ... ... ... ZZZ Corp. $4,800 $4800 Subtotals $826,700 $501,200 $175,500 $80,900 $44,300 $24,800 Customer Balance Due Date Days Past Due Buffalo-B Inc. $12,800 July 4 149 Doodle-Do Co. $8,900 Sept. 28 62 Le'Veon Corp. $16,800 Oct. 15 46 Vinny Industries $10,400 Nov. 4 26 We-Win Company $22,100 Dec. 28 Not Past Due Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 Abbott Inc. $2,500 $2,500 Account Co. $4,600 $4,600 ... ... ... ... ... ... ... ZZZ Corp. $4,800 $4800 Subtotals $826,700 $501,200 $175,500 $80,900 $44,300 $24,800 Buffalo-B Inc. 12,800.00 12,800.00 Doodle-Do Co. 8,900.00 8,900.00 Le'Veon Corp. 16,800.00 16,800.00 Vinny Industries 10,400.00 10,400.00 We-Win Company 22,100.00 22,100.00 TOTALS 897,700.00 523,300.00 185,900.00 97,700.00 53,200.00 37,600.00
Age Class
% Uncollectible
Not past due
1%
1 – 30 days past due
4%
31 – 60 days past due
15%
61 – 90 days past due
35%
Over 90 days past due
60%
Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 Total receivables Percent Uncollectible Allowance for Doubtful Accounts Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 Over 90 Total receivables 897,700 523,300 185,900 97,700 53,200 37,600 Percent Uncollectible 1 4 15 35 60 Allowance for Doubtful Accounts 68,504 5,233 7,436 14,655 18,620 22,560
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