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The following formation applies to the questions displayed below. Web Wizard, Inc., has provided information technology serviThe following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics Internat

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Computation of allowance for estimated uncollectibles - Web Wizard
Customer Balance 0-30 days 31-60 days 61-90 days Over 90 days
Total Receivables $18,500.00 $7,500.00 $8,670.00 $1,210.00 $1,120.00
Percentage uncollectibles 2% 10% 20% 35%
Allowance for doubtful accounts $1,651.00 $150.00 $867.00 $242.00 $392.00
Web Wizard Inc. (Partial Balance Sheet)
At March 31
Assets Amount
Current Assets:
Accounts receivables - Gross $18,500.00
Allowance for doubtful accounts $1,651.00
Accounts receivables, net of allowance $16,849.00
Note Receivables $2,800.00
Interest receivables $14.00

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