Question: Crell Computers categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts 1. Accounts not yet due =
Crell Computers categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts 1. Accounts not yet due = $60,000; estimated uncollectible - 3% 2. Accounts 1-30 days past due = $15,100; estimated uncollectible = 5% 3. Accounts 31-60 days past due = $10,100; estimated uncollectible = 13% 4. Accounts more than 60 days past due - $5,200; estimated uncollectible - 21% What should be the balance in Crell's allowance for uncollectible accounts? Answer is complete but not entirely correct. Allowance for uncollectible accounts $ 8,000
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