Paloma company estimates uncollectible accounts using the, Ask an Expert

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Paloma Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis

Days Past Due

Total 0 1 to 30 31 to 60 61 to 90 Over 90

Accounts receivable $95,000 $66,000 $15,000 $6,000 $3,000 $5,000

Percent uncollectible 1 % 2 % 4 % 7 % 12 %

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9436256

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