Sankara Auto Sales has an accounts receivable balance after posting collections from customers for 2019 of $180,000. Sankara's customers took advantage of sales discounts of $15,000 for the period. Management performed an aging of the accounts receivable and estimated loss percentages as follows: $90,000 Current at 2%, $50,000 1-30 days past due 5%, $30,000 31-60 days past due 10%, $10,000 60 plus days past due 25%. The amount of accounts receivable expected to be collected is:

• A. $170,200
• B. $180,000
• C. $173,200
• D. $172,700

Answer rating: 100% (QA)

Computation of Allowance for Uncollectible Accounts Ageing Accounts ... View the full answer