Question

accounting

Presented below is an aging schedule for Ivanhoe Company on December 31, 2021. Ivanhoe sells all of its goods on account with terms n/30.







Number of Days Past Due
Customer
Total
Not yet Due
1–30
31–60
61–90
Over 90
Akers
$16,000


$7,200
$8,800



Barrett
24,000
$24,000







Corner
40,000
12,000
4,000


$24,000

DeJong
30,400








$30,400
Other
100,800
73,600
12,000
10,400


4,800


$211,200
$109,600
$23,200
$19,200
$24,000
$35,200
Estimated percentage uncollectible


2%
6%
9%
21%
49%


At December 31, 2021, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $8,000.


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