Atlantic animation corporation has aged its accounts, Ask an Expert

Accounting

Atlantic Animation Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). Determine the appropriate allowance for uncollectible accounts:

Age of Receivables Balance Estimated % Uncollectible
Current $2,000 1%
30-60 days past due $800 3%
61-90 days past due $450 6%
Over 90 days past due $155 10%
Total $3,505

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M990749

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