Swenson Co. is a wholesaler of office supplies. An aging of the companys accounts receivable on December

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Swenson Co. is a wholesaler of office supplies. An aging of the company’s accounts receivable on December 31, 2002, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows:

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Estimate the proper balance of Allowance for Doubtful Accounts as of December 31, 2002.

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Survey Of Accounting

ISBN: 9781305961982

1st Edition

Authors: Carl S. Warren

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Question Posted: May 16, 2024 06:01 AM

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Swenson Co. is a wholesaler of office supplies. An aging of the companys accounts receivable on December

Question:

Age Interval Percent Balance Uncollectible Not past due $325,000 2% 1-30 days past due 86,000 4 31-60 days past due 17,000 9 15 61-90 days past due 12,000 15 18 91-180 days past due 7,400 60 Over 180 days past due 44 3,500 85 15 $450,900

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Here is the breakdown Not past due Balance 325000 Percent Uncollectible 2 Uncollectible Amount 3250...View the full answer

Survey Of Accounting

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