Question

At January 1, 2019, ABC Company reported an allowance for doubtful accounts
with a $3,500 credit balance. During 2019, ABC Company did not write-off any
accounts receivable as uncollectible; however, ABC did record recoveries of
previously written-off accounts receivable totaling $1,000. ABC Company
prepared the following aging schedule at December 31, 2019:

                            Accounts Receivable      % Uncollectible
         not past due            $103,600                   2%
         1-30 days past due        31,600                   6%
         31-60 days past due         ?                      8%
         61-90 days past due       23,400                   ?
         over 90 days past due      2,800                  45%

Based on the above information, ABC Company estimated its bad debt expense to
be $5,800 for 2019. It is known that the net realizable value of ABC Company's
accounts receivable at December 31, 2019 amounted to $153,075.

Calculate the percentage expected to be uncollectible for the accounts receivable
that were 61-60 days past due. Enter your answer as a whole number (i.e. 10). Do
not enter your answer as a decimal (i.e., .10). Do not enter your answer with the
percentage symbol included (i.e., 10%).

Answer 1

Allowance for Doubtful Debts ending balance = $3500+1000+5800 = $10300

Accounts Receivable gross = $153075+10300 = $163375

not past due	$ 1,03,600	2%	$    2,072
1-30 days	$    31,600	6%	$    1,896
31-60 days	$      1,975	8%	$       158
61-90 days	$    23,400	21%	$    4,914
Over 90 days	$       2,800	45%	$    1,260
	$ 1,63,375		$ 10,300

Answer is 21%