Fred and Barney own Bedrock Motorcycle Supplies. An aging of the company's Accounts Receivable on December...

 

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Fred and Barney own Bedrock Motorcycle Supplies. An aging of the company's Accounts Receivable on December 31, 2019 and a historical analysis of the percentage of uncollectible accounts in each category are as follows: Aging Current 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due Over 180 days past due Balance $740,000 390.000 85,000 28,000 42,000 15.000 $1,300,000 % uncollectible 12% 2 4 14 32 80 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2019. (Show your calculations) Answer: Fred and Barney own Bedrock Motorcycle Supplies. An aging of the company's Accounts Receivable on December 31, 2019 and a historical analysis of the percentage of uncollectible accounts in each category are as follows: Aging Current 1-30 days past due 31-60 days past due 61-90 days past due 91-180 days past due Over 180 days past due Balance $740,000 390.000 85,000 28,000 42,000 15.000 $1,300,000 % uncollectible 12% 2 4 14 32 80 Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2019. (Show your calculations) Answer:

Answer rating: 100% (QA)

A Aging Current Jan30 3160 6190 91180 Over 180 Total B Balanc... View the full answer