Coyote Company has given you the following information from its aging of Accounts Receivable. Using this information, determine the amount of the journal entry to record the estimated uncollectible accounts.
The current balance in Allowance for Doubtful Accounts is a $938 credit.
A) $3,231
B) $2,293
C) $1,355
D) $938
C) $1,355
Explanation: [(current balance × percent uncollectible) + (31-60 days amount × percent) + (61-90 days amount × percent) + (91+ days amount × percent)] - credit balance = amount to record. Ex: [($24,800 × 1%) + ($7,100 × 9%) + ($4,000 × 19%) + ($1,900 × 34%)] - $938 = $1,355
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