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Summit industries has a past history of uncollectible

1. Summit Industries has a past history of uncollectible accounts, as shown below. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise 9-8.

Percent

Age Class Uncollectible

Not past due 1%
1-30 days past due 6
31-60 days past due 20
61-90 days past due 35
Over 90 days past due 50

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Accounting Basics: Summit industries has a past history of uncollectible

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Accounting Basics: Summit industries has a past history of uncollectible

Reference No:- TGS01509888

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