Question

Granger Corporation has accounts receivable of $95,700 at March 31, 2018. An analysis of the accounts shows these amounts. Month of Sale March (current) February (1 - 30 days past due) December and January (31 - 90 days past due) (over 90 days past due) Balance, March 31 2018 2017 $64,300 $76,500 13,700 7,800 10,000 2,700 7,700 1,100 $95,700 $88,100 Credit terms are 2/10,n/30. At March 31, 2018, there is an unadjusted $2,200 credit balance in Allowance for Doubtful Accounts. The company uses the percentage of receivables by age category for estimating uncollectible accounts Granger's estimates of bad debts are as shown below. Age of Accounts Current 1-30 days past due 31-90 days past due Over 90 days past due Estimated Percentage Uncollectible 3% 6% 30% 50%

Answer 1

Accounts receivables	Amount	%	Estimated Uncollectible
Current	$64300	3%	$1929
1-30 days past due	13700	6%	822
31-90 days past due	10000	30%	3000
over 90 days past due	7700	50%	3850
			$9601