Flossmoor Company uses the accounts receivable aging method to estimate uncollectible accounts. At the beginning of the year, the balance of the Accounts Receivable account was a debit of $88,430, and the balance of Allowance for Uncollectible Accounts was a credit of $7,200. During the year, the company had sales on account of $473,000, sales returns and allowances of $4,200, worthless accounts written off of $7,900, and collections from customers of $450,730. At the end of year (December 31, 2014), a junior accountant for Flossmoor was preparing an aging analysis of accounts receivable. At the top of page 6 of the report, the following totals appeared:

To finish the analysis, the following accounts need to be classified:

From past experience, the company has found that the following rates are realistic for estimating uncollectible accounts:
Percentage Considered
Time Uncollectible
Not yet due ......... 2
1€“30 days past due ..... 5
31€“60 days past due ...... 15
61€“90 days past due ...... 25
Over 90 days past due .... 50

Required
1. Complete the aging analysis of accounts receivable.
2. Compute the end-of-year balances (before adjustments) of Accounts Receivable and Allowance for Uncollectible Accounts.
3. Prepare an analysis computing the estimated uncollectible accounts. (Round to the nearest dollar.)
4. Calculate Flossmoor€™s estimated uncollectible accounts expense for the year. (Round to the nearest whole dollar).
5. What role do estimates play in applying the aging analysis? What factors might affect theseestimates?

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1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due Customer Total Account Balance Forward $89,640 $49,030 $24,110 $9,210 $3,990 3,300 Not Yet Due Account B. Singh L Wells A. Rocky T. Cila M. Mix S. Prince J. Wendt Amount $930 620 1,955 2,100 375 2,685 295 $8,960 Due Date Jan. 14 (next year) Dec. 24 Sept. 28 Aug. 16 Dec. 14 Jan. 23 (next year) Nov.5