At the End of the Year, a Company Has the Following

question 153

Essay

At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts: 1. Accounts not yet due $= \$ 80,000$ ; estimated uncollectible $= 2 \%$ .
2. Accounts $1 - 30$ days past due $= \$ 20,000$ ; estimated uncollectible $= 25 \%$ .
3. Accounts more than 30 days past due $= \$ 4,000$ ; estimated uncollectible $= 60 \%$ . Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible Accounts is $900 (credit).

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Definitions:

Depressive Disorders

A group of conditions characterized by persistent feelings of sadness and worthlessness and a lack of desire to engage in previously enjoyable activities.

Depressive Disorder

A category of mood disorders characterized by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Canadians

Citizens of Canada, a country located in the northern part of North America, known for its multicultural society and bilingual linguistic policies.

Peak Age

The age at which an individual's physical, cognitive, or developmental abilities are considered to be at their highest performance level.