(Answered) Question - on the basis of past experience the company

Accounting

Question - On the basis of past experience, the company estimated the percentages probably uncollectible for the above five age groups to be as follows: Group a, 1 percent, Group b 3 percent, Group c 10 percent, Group d 20 percent, Group e 50 percent.

The allowance for doubtful accounts before adjustments at December 31 showed a credit balance of $4,700.

Compute the estimated amount of uncollectible accounts based on the above classification by age groups?

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