Homework Answers
Calculation of amount required to be recorded as allowance for uncollectible accounts in it's December 31 balance sheet.
= ($60000*5%) + ($4000*10%) + ($2000*70%)
= $4800 answer
Note the aging schedule determine how much uncollectible amount is required. This is final balance. Since there is existing $1000 we need another $3800 for making a total of $4800.
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