Consider the following analysis of Accounts Receivable, February 28, 20X0:

Prepare an aging schedule, classifying ages into four categories: 1–30 days, 31–60 days, 61–90 days, and over 90 days. Assume that the prospective bad debt percentages for each category are .2%, .8%, 10%, and 85%, respectively. What is the ending balance in Allowance for Uncollectible Accounts?

Transcribed Image Text:

Name of Customer Total Remarks $25,000 20% over 90 days, 80% 61-90 days 75% 31-60 days 25% under 30 days 60% 61-90 days, 40% 31-60 days All under 30 days 25% 61-90 days 75% under 30 days 50% under 30 days 30% 31-60 days 15% 61-90 days 5% over 90 days Akita Nurseries Michael's Landscaping Rose's Garden Supply Loring Farm 8,000 12,000 20,000 4,000 Hjortshoj Florists Other accounts (each detailed) 80,000 Total $149,000