On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500....

 

Transcribed Image Text:

On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 830,000 254,000 Age of Accounts Receivable Not yet due Expected Percent Uncollectible 1.25% 86,000 1 to 30 days past due 31 to 60 days past due 2.00 6.50 38,000 12,000 61 to 90 days past due Over 90 days past due 32.75 68.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Note: Enter "Percent uncollectible" answers as percent rounded to 2 decimal places. Accounts Receivable x Percent Uncollectible Not due 1 to 30 31 to 60: X 61 to 90: Over 90 Estimated balance of allowance for uncollectibles Estimated Uncollectible On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 830,000 254,000 Age of Accounts Receivable Not yet due Expected Percent Uncollectible 1.25% 86,000 1 to 30 days past due 31 to 60 days past due 2.00 6.50 38,000 12,000 61 to 90 days past due Over 90 days past due 32.75 68.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Note: Enter "Percent uncollectible" answers as percent rounded to 2 decimal places. Accounts Receivable x Percent Uncollectible Not due 1 to 30 31 to 60: X 61 to 90: Over 90 Estimated balance of allowance for uncollectibles Estimated Uncollectible

Answer rating: 100% (QA)

Answer we can calculate the required balance of the Allowance for Doubtful Accounts using the aging ... View the full answer