Calculate the total estimated uncollectibles based on the below information. Number of Days Outstanding Total 0–30 31–60 61–90 91–120 Over 120Accounts receivable $400,900 $227,000 $95,800 $38,700 $22,900 $16,500% uncollectible 1% 4% 5% 8% 10%Estimated uncollectibles $enter the total estimated bad debts amount in dollars $enter the estimated bad debts amount in dollars $enter the estimated bad debts amount in dollars $enter the estimated bad debts amount in dollars $enter the estimated bad debts amount in dollars $enter the estimated bad debts amount in dollars

Allowance for uncollectible accounts is considered a contra asset account. It is used for the…

Answered: Calculate the total estimated…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Calculate the total estimated uncollectibles based on the below information.

		Number of Days Outstanding
	Total	0–30	31–60	61–90	91–120	Over 120
Accounts receivable	$400,900	$227,000	$95,800	$38,700	$22,900	$16,500
% uncollectible		1%	4%	5%	8%	10%
Estimated uncollectibles	$enter the total estimated bad debts amount in dollars	$enter the estimated bad debts amount in dollars	$enter the estimated bad debts amount in dollars	$enter the estimated bad debts amount in dollars	$enter the estimated bad debts amount in dollars	$enter the estimated bad debts amount in dollars

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