CoursHeroTranscribedText: On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance...
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CoursHeroTranscribedText: On December 31, Jarden Company's Allowance for Doubtful Accounts has an unadjusted credit balance of $15,000. Jarden prepares a schedule of its December 31 accounts receivable by age. Accounts Expected Percent Receivable Age of Accounts Receivable Uncollectible $ 860,900 Not yet due 1.30% 344, 900 1 to 30 days past due 2.05 68,800 31 to 60 days past due 6.55 34,400 61 to 90 days past due 33.00 13,760 Over 90 days past due 69.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31 using an aging of accounts receivable. Accounts Percent Estimated Receivable X Uncollectible (#.##%) Uncollectible Not due: = 1 to 30: 31 to 60: 61 to 90: = Over 90: S Estimated balance of allowance for uncollectibles
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