Answer Requirement 1
Age Group | Estimated Amount Uncollectible |
Not yet due | $ 1,500 |
0-90 days past due | $ 1,500 |
91-180 days past due | $ 3,000 |
more than 180 days past due | $ 12,000 |
Total | $ 18,000 |
Calculated as
Age Group | Amount Receivable | Estimated percent uncollectible | Estimated amount uncollectible | ||
Not yet due | 30000 | x | 5% | = | $ 1,500 |
0-90 days past due | 15000 | x | 10% | = | $ 1,500 |
91-180 days past due | 10000 | x | 30% | = | $ 3,000 |
more than 180 days past due | 15000 | x | 80% | = | $ 12,000 |
Total | $ 18,000 |
Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account...
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Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $580,000. Of this amount, $70,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below. Age Group Not yet due 0-90 days past due 91-180 days past due More than 180 days past due Total Amount Receivable $30,000 15,000 10,000 15,000 $70,000 Estimated Percent Uncollectible 5X 18% 3ex 80% 3. On July 19, 2022,...
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This is part 1-4 of the same problem, not separate
problems.
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