Question: Please answer and help (Chpt. 8, #2) Metlock, Inc. has accounts receivable of $95,500 at March 31, 2022. Credit terms are 2/10, n/30. At March
Metlock, Inc. has accounts receivable of $95,500 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $2,296 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The company's estimates of uncollectibles are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2022 2021 Current $66,400 $68,240 1-30 days past due 12,600 7,280 31-90 days past due 9,100 2,540 Over 90 days past due 7,400 1,090 $95,500 $79,150 (a) Determine the total estimated uncollectibles at March 31, 2022. The total estimated uncollectibles $ 2% 5 30 50
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