Required information (The following information applies to the questions displayed below.) On December 31, Jarden...
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Accounting
Required information (The following information applies to the questions displayed below.) On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $16,000. Jarder prepares a schedule of its December 31 accounts receivable by age. Accounts Receivable $ 880,000 352,000 70, 400 35,200 14,080 Age of Accounts Receivable Not yet due 1 to 30 days past due 31 to 60 days past due 61 to 90 days past due Over 90 days past due Expected Percent Uncollectible 1.30% 2.05 6.55 33.00 69.00 Required: 1. Compute the required balance of the Allowance for Doubtful Accounts at December 31. Accounts Receivable Percent Uncollectible (#.##%) Estimated Uncollectible Not due: 1 to 30: X 31 to 60: 61 to 90: = Over 90: Estimated balance of allowance for uncollectibles
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