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What should be balance in crell allowance for uncollectible

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Reference no: EM132721024

Crell Computers categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts.

  1. Accounts not yet due = $60,000; estimated uncollectible = 5%
  2. Accounts 1-30 days past due = $15,000; estimated uncollectible = 10%. 
  3. Accounts 31-60 days past due = $10,000; estimated uncollectible = 20%. 
  4. Accounts more than 60 days past due = $5,000; estimated uncollectible = 30%.

Problem 1: What should be the balance in Crell's allowance for uncollectible accounts?

Reference no: EM132721024

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