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Question - Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $47,850 and $3,800, respectively. During the year, the company wrote off $2,820 in uncollectible accounts. In preparation for the company's Year 2 estimate, Domino prepared the following aging schedule:
Number of Days Past Due
Receivables Amount
Percentage Likely to Be Uncollectible
Current
$82,000
1%
0-30
29,500
5%
31-60
7,960
10%
61-90
4,220
25%
Over 90
3,900
50%
Total
$127,580
Required - What will Domino record as Uncollectible Accounts Expense for Year 2?
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