Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as follows. Age Class Not past due 1-30 days past due 31-60 days past due 61-90 days past due Over 90 days past due Subtotals Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company Total receivables Percent Uncollectible Percentage uncollectible Allowance for doubtful accounts 2% Balance 4 18 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Estimate the Allowance for Doubtful Accounts 40 75 Not Past Days Past Due Due 1-30 $220,000 $1,050,000 $600,000 30,000 18,000 9,000 26,400 46,600 1,180,000 26,400 626,400 2% 46,600 266,600 4% Days Past Due 31-60 $115,000 9,000 124,000 18% Days Past Due 61-90 $85,000 18,000 103,000 40% Days Past Due Over 90 $30,000 30,000 60,000 75%
Estimating Allowance for Doubtful Accounts Kirchhoff Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule below. Kirchhoff Industries Estimate the Allowance for Doubtful Accounts
