Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $589,000. Of this amount, $79,000 remains receivable at the end of the year. An aging schedule as of December 31, 2021, is provided below.

Age Group Amount Receivable Estimated Percent Uncollectible

Not yet due $ 40,000 4%

0-90 days past due 16,000 20%

91-180 days past due 11,000 25%

More than 180 days past due 13,000 80%

Total $ 80,000

Calculate the allowance for uncollectible accounts.

Estimated Allowance for Uncollectible Accounts  $ 17950.

Explanation:

Pearl E. White Orthodontist

Schedule of Accounts Receivable by Age

December 31, 2021

Age Group                  Amount           Estimated        Uncollectible

                                    Receivable        Percent

Not yet due                $ 40,000                 4%              1600

0-90 days past due     16,000                   20%            3200

91-180 days past due     11,000                  25%          2750

More than 180 days past due 13,000        80%           10400

Total                           $ 80,000                                  17950

Estimated Allowance for Uncollectible Accounts  $ 17950.

The above schedule shows the accounts receivable assigned to one of the four classes based on its days past due . The amounts of each class are multiplied by the estimated percent of the uncollectibles accounts. The total amount in the Uncollectible is the estimated balance for the Allowance for Uncollectible Accounts  $ 17950.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number