Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. estimating doubtful accounts performance bike co.

Estimating Doubtful Accounts Performance Bike Co. is a wholesaler of motorcycle supplies. An aging of...

70.2K

Verified Solution

Question

Accounting

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 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 $756,000 3/4% $fill in the blank 1 1-30 days past due 83,200 3 fill in the blank 2 31-60 days past due 37,800 9 fill in the blank 3 61-90 days past due 27,200 14 fill in the blank 4 91-180 days past due 19,700 38 fill in the blank 5 Over 180 days past due 14,400 80 fill in the blank 6 Total $938,300 $fill in the blank 7

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

Finance
1.2K views

A pension fund manager is considering three mutual funds. The first is a stock fund, the...

Statistics
1.2K views

Students' heights from Dorm A are normally distributed with a mean of 69.4 inches and standard...

Biology
1.2K views

1 3 Skin cells and liver cells contain different sets of enzymes Which of the...

Physics
1.2K views

2 A sphere of 4 cm radius is suspended within a hollow sphere of 6...

Basic Math
1.2K views

Fill in the blank.To complete the square of x-8x, addTo complete the square of x-8x,...

Accounting
1.2K views

Exercise 2-12 Applying Overhead; Cost of Goods Manufactured [LO2-2, LO2-6, LO2-7] ...

Accounting
1.2K views

Durante su primer mes de operaciones, Labrador Corporation entreg $10,000 en servicios a sus clientes....

Accounting
1.2K views

14. Cardinal Company is considering a project that would require a...

Accounting
1.2K views

The entries transfer the results of operations to owner's equity. O adjusting O closing o...

Accounting
1.2K views

Which of the following are true about the Cash Flow Statement? You may select one...

Accounting
1.2K views

In today's complicated Industrial environment, management accounting has evolved into a necessary component of management....

Finance
1.2K views

4. Bond valuation The process of bond valuation is based on the fundamental concept that...