On December $31,$ Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $$15,000.$ Jarden prepares a schedule of its December $31$ accounts receivable by age.

Accounts Receivable Age of Accounts Receivable Expected Percent Uncollectible

$ $840,000$ Not yet due $1\mathrm{.}30\%$

$336,0001$ to $30$ days past due $2\mathrm{.}05$

$67,20031$ to $60$ days past due $6\mathrm{.}55$

$33,60061$ to $90$ days past due $33\mathrm{.}00$

$13,440$ Over $90$ days past due $69\mathrm{.}00$

Required:

$1.$ Compute the required balance of the Allowance for Doubtful Accounts at December $31$ using an aging of accounts receivable.Accounts Receivable $\backslash$times Percent Uncollectible$=$ Estimated Uncollectible

Not due: $\backslash$times $=$ 

$1$ to $30$: $\backslash$times $=$ 

$31$ to $60$: $\backslash$times $=$ 

$61$ to $90$: $\backslash$times $=$ 

Over $90$: $\backslash$times $=$ 

Estimated balance of allowance for uncollectibles.

Answer rating: 100% (QA)

To compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging ... View the full answer