Coronado Industries has accounts receivable of $89,200 at March 31, 2017. At March 31, 2017, there is
Question:
Coronado Industries has accounts receivable of $89,200 at March 31, 2017. At March 31, 2017, there is a $2,151 balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company’s estimates of bad debts are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2017 2016 Current $60,400 $80,160 2 %
1–30 days past due 12,000 8,610 5
31–90 days past due 10,200 2,400
31 Over 90 days past due 6,600 1,070 48 $89,200 $92,240
Determine the total estimated uncollectibles.
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann L. Johnston, Peter R. Norwood