Duncan Corporation uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days...
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Duncan Corporation uses two aging categories to estimate uncollectible accounts. Accounts less than 60 days are considered young and have a 7% uncollectible rate. Accounts a more than 60 days are considered old and have a 33% uncollectible rate. Duncan's Allowance for doubtful accounts currently has an unadjusted credit balance of $3,000. If Duncan has $83,400 of young accounts and $6,500 of old accounts, how much should be reported in the adjusted Allowance for doubtful accounts
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