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What will be the dollar balances in the allowance

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Baltimore Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has a balance that consists of:

                                         Dollar Value                      Age of Account

Estimated Collectible                 $130,000                 < 30 days old 99%                                       

                                           75,000                   30 to 60 days old 93%

                                           40,000                     61 to 120 days old  73%

                                           11,000                       > 120 days old         17%

Question 1: The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance of zero. After the adjusting entry is made, what will be the dollar balances in the Allowance for Doubtful Accounts? Round to nearest whole dollar.

Reference no: EM132485768

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