Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. estimating allowance for doubtful accounts kirchho

Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as...

70.2K

Verified Solution

Question

Accounting

image

Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as shown below Age Clas:s Not past due 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below Percent Uncollectible 1% 20 Kirchhoff Industries Aging-of-Receivables Schedule Customer Subtotals Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company Totals Percentage uncollectible BalanceNot Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90 Days Past Due 596,700 352,100 15,000 17,000 10,300 8,000 29,100 29,100 676,100 381,200 29,800 15,000 131,300 53,700 29,800 17,000 10,300 8,000 139,300 6% 64,000 20% 46,800 30% 44,800 45% 196 Allowance for Doubtful Accounts

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

what is thE ph for A. 0.021 M hno2 at 25 degrees with ka of 4.3*10^-4 B....

Programming
1.2K views

Add a new local user to your system. Local accounts are usually used for different project, not...

Biology
1.2K views

What disease is NOT a result of a mutation in the receptor tyrosine kinases a...

Geometry
1.2K views

A 30 60 90 triangle has a hypotenuse of 7 2 Find the other sides...

Basic Math
1.2K views

Let csc 0 7 and cot 0 0 Use fundamental identities to find the exact...

Basic Math
1.2K views

Find the exact value of the following expression. Do not use a calculator to enter...

Accounting
1.2K views

Karen White helped organize a charity fund to help cover the medical expenses of her...

Accounting
1.2K views

Cove's Cakes is a local bakery Price and cost information folkows Price per cake Variable...

Accounting
1.2K views

Required information [The following information applies to the questions displayed below.) This year Jack intends...

Accounting
1.2K views

Entries for investment in Bonds, interest, and 5 ale of Bonds Parilo Company acquired $204,000...

Accounting
1.2K views

ssignment #7 - Chapter 9 Question 3 of 7 - /20 III View Policies Current...

Accounting
1.2K views

Question 1 Required information [The following information applies to the questions...