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Problem - At January 1, 2022, D-341 Company reported an allowance for doubtful accounts with a $25,970 credit balance. During 2022, D-341 Company wrote-off as uncollectible accounts receivable totaling $11,840. At December 31, 2022, D-341 Company prepared the aging schedule below:
Accounts Receivable
% Uncollectible
not past due
$214,009
2%
1-45 days past due
$131,000
5%
46-90 days past due
$87,080
9%
91-135 days past due
$68,080
16%
over 135 days past due
$29,000
27%
Based on the above aging schedule, D-341 Company estimated its bad debt expense to be $12, 750 for 2022.
Calculate the amount of recoveries recorded by D-341 Company during 2022.
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