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Norma J. Baker Corp. uses the balance sheet approach to estimate uncollectible accounts expenses. At...

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Norma J. Baker Corp. uses the balance sheet approach to estimate uncollectible accounts expenses. At year-end, an aging of her accounts receivable produced the following five groupings: a) Not yet due $250,000 $105,000 $40,000 On the basis of past experience, the company estimated the percentages probably uncollectible for the 5 age groups as follows: Group A, 1%; Group B, 3%; Group C, 10%; Group D, 20%; Group E, 50% The Allowance for Doubtful Accounts before adjustment at December 31 showed a Credit Balance also $21,500. b) 1-30 days past due c) 31-60 days past due d) 61-90 days past due e) Over 90 days past due $7,500 $15,000 $417,500 Total INSTRUCTION: Fill in the "Accounts Receivable by Age Group" Table and enter the Adjusting Transaction into the Ledger below Accounts Receivable by Age Group Amount % considered Uncollectible Estimated Uncollectible Accounts a. Not yet due b. 1-30 days past due c. 31-60 days past du d. 61-90 days past du e. Over 90 days past du Total Account Title Debit Credit

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