Question: Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts: 1. Accounts not yet due =$341,000;
Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts: 1. Accounts not yet due =$341,000; estimated uncollectible =20%. 2. Accounts 130 days past due =$42,600; estimated uncollectible =23%. 3. Accounts 31-90 days past due =$34,100; estimated uncollectible =26% 4. Accounts more than 90 days past due =$25,600, estimated uncollectible =2,9%. At 12/31/2021, before recording any adjustments. Zuo has a credit balance of $23,900 in its allowance for uncollectible accounts. Required: 1. Estimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts. 2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts? 3. Calculate Zuo's 12/31/2021 net accounits receivable balance. Entimate the appropriate 12/31/2021 balance for Zuo's allowance for uncollectible accounts
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