Estimate the balance sheet reporting amount for Net accounts

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Question - ?Bwalya Mulengas ?companys accounts receivable has a debit balance of k250000. The aging method indicates that 30% of the customers are current which is within 30 days. The credit manager has observed that 45% of customers invoices are more than 60 days past due. Those past due accounts are received closely and based on each customers information. It is estimated that approximately k60,000 will not be collected of the accounts receivable, 50% are 90 days and the other 50% is 120 days overdue. Therefore the credit balance in the allowance for bad debts accounts must be charged. Estimate the balance sheet reporting amount for Net accounts receivable. Design age analysis to show the stated position.

Reference no: EM132523476

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