A year minus-end review of Accounts Receivable and estimated uncollectible percentages revealed the following:
Days Outstanding
Accounts Receivable
Est. Percent Uncollectible
1-30 days
62,000
2 %
31-60 days
$44,000
4 %
61-90 days
$25,000
11 %
Over 90 days
$7,000
51 %
Before the Year - end adjustment, the credit balance in Allowance for Uncollectible Accounts was
$1,400. Under the aging - of - receivables method, the Uncollectible Minus-Account Expense at year-end
is:
A.$7,920.
B.$10,720.
C.$1,240.
D.$9,320.
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