a-companys-aging-schedule-shows-30000-current-1-uncollectible-15000-31-60-days-3

Question

A company’s aging schedule shows: $$30,000 current (1% uncollectible), 15$$,000 31-60 days (3% uncollectible), $5,000 over 60 days (10% uncollectible). What is the required ending balance in the allowance for doubtful accounts?

Accepted Answer

$1,250

Answer

$1,500

Answer

$2,000

Answer

$1,050

A company’s aging schedule shows: \$30,000 current (1% uncollectible), \(15,000 31-60 days (3% uncollectible), \)5,000 over 60 days (10% uncollectible). What is the required ending balance in the allowance for doubtful accounts?