Homework Answers
|
Age Interval |
Balance |
Percent Uncollectible |
Allowance for Doubtful Accounts |
|
Not yet due |
56,000 |
1% |
56,000 x 1% = 560 |
|
1-30 days past due |
30,000 |
4% |
30,000 x 4% = 1,200 |
|
31-60 days past due |
15,000 |
6% |
15,000 x 6% = 900 |
|
Total |
$2,660 |
Balance of Allowance for Doubtful Accounts as of December 31, 2018 = $2,660
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