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Marianna [84]
3 years ago
6

The following aging information pertains to Jacobsen Co.'s accounts receivable at December 31, 2021.

Business
1 answer:
wariber [46]3 years ago
3 0

Answer:

$494,000

Explanation:

    Days             Amount      Estimated %      Estimated amount  

outstanding                         Uncollectible         uncollectible

   0-30             $420,000            2%                       $8,400

   31-60            $140,000             5%                       $7,000

   61-120           $100,000            10%                      $10,000

   120+              $120,000            20%                     <u>$24,000</u>

Total                                                                           <u>$494,000</u>

Thus, Jacobsen should report $494,000 as the amount of allowance for uncollectible accounts at December 31, 2021

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