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Newbury Bikes Co._Uncollectible Amounts

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Question;Ecxercise 6-7Exercise 6-7 Estimating doubtful accountsNewbury Bikes Co. is a wholesaler of motorcycle supplies. An aging of thecompany's accounts receivable on December 31, 2012, and a historicalanalysis of the percentage of uncollectible accounts in each age category are as follows:Age IntervalNo past due1-30 days past due31-60 days past due61-90 days past due91-180 days past dueOver 180 days past dueBalance$667,000158,00054,00020,50015,00010,500$925,000Percent Uncollectible1/2%154075Estimate what the balance of the allowance for doubtful accounts should be as of December 31, 2012.

 

Paper#37430 | Written in 18-Jul-2015

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