Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows: Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31. Performance Bike Co. Estimation of Uncollectible Accounts December 31 Age Interval Balance Estimated Uncollectible Accounts Percent Estimated Uncollectible Accounts Amount Not past due $736,000 1/2% $fill in the blank 1 1-30 days past due 81,000 2 fill in the blank 2 31-60 days past due 36,800 8 fill in the blank 3 61-90 days past due 26,500 16 fill in the blank 4 91-180 days past due 19,100 39 fill in the blank 5 Over 180 days past due 14,000 65 fill in the blank 6 Total $913,400

Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of...

Estimating Doubtful Accounts

Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of uncollectible accounts in each age category are as follows:

Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31.

Performance Bike Co.
Estimation of Uncollectible Accounts
December 31
Age Interval	Balance	Estimated Uncollectible Accounts Percent	Estimated Uncollectible Accounts Amount
Not past due	$736,000	1/2%	$fill in the blank 1
1-30 days past due	81,000	2	fill in the blank 2
31-60 days past due	36,800	8	fill in the blank 3
61-90 days past due	26,500	16	fill in the blank 4
91-180 days past due	19,100	39	fill in the blank 5
Over 180 days past due	14,000	65	fill in the blank 6
Total	$913,400

Jun 02, 2022

SOLUTION.PDF

Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of the company's accounts receivable on December 31 and a historical analysis of the percentage of...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment