Question: Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 1 %

Estimating Allowance for Doubtful Accounts

Evers Industries has a past history of uncollectible accounts, as follows.

Age Class Percent Uncollectible
Not past due 1 %
1-30 days past due 3
31-60 days past due 12
61-90 days past due 30
Over 90 days past due 75

Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the chart below.

Balance Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90
Total receivables 1,124,500 607,400 233,000 121,600 96,500 66,000
Percentage uncollectible 1% 3% 12% 30% 75%
Allowance for doubtful accounts fill in the blank 1 fill in the blank 2 fill in the blank 3 fill in the blank 4 fill in the blank 5 fill in the blank 6

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Not past due 1 - 3 0 days past due 3 1 - 6 0 days past due 6 1 - 9 0...

Q:

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of recelvables...

Q:

Estimating allowance for doubtful accounts Evers Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables...

Q:

Estimating allowance for doubtful accounts Evers Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables...

Q:

estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Not past due 1-30 days past due 31-60 davs past due 61-90 days past due...

Q:

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due...

Q:

Estimating allowance for doubtful accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due...

Q:

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as shown below. Age Class Percent Uncollectible Not past due 29 1-30 days past due 5 31-60...

Q:

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows. Age Class Percent Uncollectible Not past due 1 % 3 12 1-30 days past due 31-60...

Q:

Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due...

Q:

Pedaling produces bending and twisting of the spindle. Consider here only the transverse loading (bending), and ignore the torsion. Draw the shear force and bending moment diagrams for the spindle...

Q:

When will this firm shut down and exit?

Q:

As one of the "Prerequisites of Investing," establishing a ensures that you will have an amount of money that can be obtained quickly in case of immediate need. 4 0 3 b traditional IRA 4 0 1 k Roth...

Q:

A firm recently received several complaints about the lack of a high - demand product in its stores, so it quickly took action to replenish diminished inventories. This action relates to the...

Q:

What are the ways, both direct and subtle, your company tells customers not to complain?

Q:

If I complain about that person, he may come aft er me. You know how nuts people can get today.

Q:

I was partially responsible.