70.2K

Verified Solution

Link Copied!

Sunland Company has accounts receivable of $ 94,800 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $ 2,271 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The companys estimates of uncollectibles are as shown below.

		Balance, March 31				Estimated Percentage Uncollectible
Age of Accounts		2022		2021
Current		$ 63,400		$ 80,240		2	%
130 days past due		13,200		7,500		5
3190 days past due		11,000		2,170		30
Over 90 days past due		7,200		1,130		50
		$ 94,800		$ 91,040

(a)

Determine the total estimated uncollectibles at March 31, 2022.

The total estimated uncollectibles

$ enter the total estimated uncollectibles in dollars Sunland Company has accounts receivable of $ 94,800 at March 31, 2022. Credit terms are 2/10, n/30. At March 31, 2022, there is a $ 2,271 credit balance in Allowance for Doubtful Accounts prior to adjustment. The company uses the percentage-of-receivables basis for estimating uncollectible accounts. The companys estimates of uncollectibles are as shown below. Balance, March 31 Estimated Percentage Uncollectible Age of Accounts 2022 2021 Current $ 63,400 $ 80,240 2 % 130 days past due 13,200 7,500 5 3190 days past due 11,000 2,170 30 Over 90 days past due 7,200 1,130 50 $ 94,800 $ 91,040 (a) Determine the total estimated uncollectibles at March 31, 2022. The total estimated uncollectibles $ enter the total estimated uncollectibles in dollars

Answer & Explanation Solved by verified expert

See Answer