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A/R Aging Report, December 2022 Uncollectable Estimate due now - 5000 2% 30 days overdue...

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Accounting

A/R Aging Report, December 2022

Uncollectable Estimate due now - 5000 2%

30 days overdue -11000 3%

60 days overdue - 4000 10%

90 days overdue - 3000 40%

120 days overdue - 1800 50%

more than 120 days overdue - 200 100%

1) In December the business sold 300 products at $40 per. The customers paid with credit cards, which cost the business 3% of the sale.

2) The business estimates that 4% of the credit card sales (transaction 2) as well as some of the account receivables (see aging table in the scenario) will be uncollectible and the business decides to recognize a bad debt estimate.

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