Carla Vista Company has accounts receivable of $170,000 at September 30, 2021. An analysis of the accounts shows the following:

Month of Sale
Balance
September  =             $120,000
August          =              25,000
July                 =             14,000
April, May, and June = 11,000
Total                              $170,000

Credit terms are 2/10, n/30. The unadjusted balance in the Allowance for Doubtful Accounts on September 30, 2021, is $1,600 debit. The company uses an aging schedule to estimate uncollectible accounts. The company's percentage estimates of bad debts are as follows:

Number of Days Outstanding
Estimated %
Uncollectible
0-30 =        1%
31-60=     10%
61-90=      25%
Over 90=       60%
Can you please  create aging schedule to determine the total estimated uncollectible accounts at September 30, 2021.

 

Answer rating: 100% (QA)

ANS WER d debi... View the full answer