Chapter $8$ Homework $($i$)$

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Young and Old Corporation $($YOC$)$ uses two aging categories to estimate uncollectible accounts. Accounts less than $60$ days are considered young and have a $6\%$ uncollectible rate. Accounts more than $60$ days are considered old and have a $40\%$ uncollectible rate.

Required:

If YOC has $$119,000$ of young accounts and $$310,000$ of old accounts, how much should be reported in the Allowance for Doubtful Accounts?

If YOC's Allowance for Doubtful Accounts currently has an unadjusted credit balance of $$31,000,$ how much should be credited to the account?

If YOC's Allowance for Doubtful Accounts has an unadjusted debit balance of $$4,100,$ how much should be credited to the account?

$\backslash$table$[[1.$ Amount to be Reported$],[2.$ Amount to be Credited$],[3.$ Amount to be Credited$]]$