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The Totals from the Kalvin Company's Schedule of Accounts Receivable

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Essay

The totals from the Kalvin Company's Schedule of Accounts Receivable by Age as of the end of the current year are shown below.  Account  Balance  Current 1303160 Over 60 Totals $11,800$8,800$1,500$600$900\begin{array} { l } \text { Account }&\text { Balance }&\text { Current }&{1-30}&{31-60}&\text { Over } 60 \\\hline\text { Totals } & \$ 11,800 & \$ 8,800 & \$ 1,500 & \$ 600&\$ 900\\\hline\end{array}
As of the end of the current year, there is a debit balance of $75 in the Allowance for Doubtful Accounts.
1. Compute the estimated uncollectible accounts using the following rates.  Current 1%130 days past due 10%3160 days past due 25% Over 60 days past due 50%\begin{array}{lr}\text { Current } & 1 \% \\1-30 \text { days past due } & 10 \% \\31-60 \text { days past due } & 25 \% \\\text { Over } 60 \text { days past due } & 50 \%\end{array} 2. Compute the amount of the adjustment for uncollectible accounts expense.

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