Determine appropriate allowance for uncollectible account


Atlantic Animation Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). Determine the appropriate allowance for uncollectible accounts:

Age of Receivables Balance Estimated % Uncollectible
Current $2,000 1%
30-60 days past due $800 3%
61-90 days past due $450 6%
Over 90 days past due $155 10%
Total $3,505

 

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Accounting Basics: Determine appropriate allowance for uncollectible account
Reference No:- TGS072293

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