Kirchhoff Industries has a past history of uncollectible accounts, as follows. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule you completed in Exercise below.
Age Class Percent Uncollectible
Not past due 2%
1-30 days past due 4
31-60 days past due 18
61-90 days past due 40
Over 90 days past due 75
Exercise
Customer Balance Due Date
Conover Industries $30,000 March 22
Keystone Company 18,000 July 1
Moxie Creek Inc. 9,000 July 25
Rainbow Company 26,400 September 10
Swanson Company 46,600 August 3"
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Kirchhoff Industries has a past history of uncollectible accounts, as follows. Estimate the allowanc...
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