rt One 6 Help Save&Exit; Su Oceanside Company uses the balance sheet approach in

Question

rt One 6 Help Save&Exit; Su Oceanside Company uses the balance sheet approach in estimating uncollectible accounts expense. ts Allowance for balance prior to adjusting entries. It has just completed an aging analysis of accounts rec Doubtful Accounts has a $1,600 credit eivable at December 31, 2018. This analysis disclosed the following Age Percentage Group Considered Total Uncollectible 1-30 days past due 31-60 past due $60,000 $32,000 $17,000 38 What is the appropriate balance $109.000 $45.000 Next >

Explanation / Answer

allowance for doubtful accounts balance will be :$2,240

Age group total Percentage uncollectible Uncollectible amount (amount*percentage) Not yet due $                  60,000 1% $                                                                                  600 1-30 days past due $                  32,000 3% $                                                                                  960 31-60 past due $                  17,000 4% $                                                                                  680 Total $                                                                              2,240

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