Teal Mountain Inc. determines that at the end of December, they have the following aging schedule of Accounts Receivable: Customer K. Perry J. Montgomery C. Klein C. Sheen % Uncollectible Total $700 400 180 300 ? Not yet due 200 300 500 1 % Number of Days Past Due Total estimated uncollectible accounts $ 1-30 $400 400 5 % 31-60 $300 50 350 10 % 61-90 200 200 25 % Over 90 130 130 50 % Compute the total estimated uncollectible accounts based on the above information at the end of December.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Teal Mountain Inc. determines that at the end of December, they have the following aging schedule of Accounts Receivable:
Customer
K. Perry
J. Montgomery
C. Klein
C. Sheen
% Uncollectible
Total
$700
400
180
300
?
Not yet due
200
300
500
1 %
Number of Days Past Due
Total estimated uncollectible accounts $
1-30
$400
400
5%
Compute the total estimated uncollectible accour based on
31-60
$300
50
350
10 %
61-90
200
200
25 %
Over 90
130
130
50 %
above information at the end of December.
Transcribed Image Text:Current Attempt in Progress Teal Mountain Inc. determines that at the end of December, they have the following aging schedule of Accounts Receivable: Customer K. Perry J. Montgomery C. Klein C. Sheen % Uncollectible Total $700 400 180 300 ? Not yet due 200 300 500 1 % Number of Days Past Due Total estimated uncollectible accounts $ 1-30 $400 400 5% Compute the total estimated uncollectible accour based on 31-60 $300 50 350 10 % 61-90 200 200 25 % Over 90 130 130 50 % above information at the end of December.
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