A company has the following accounts receivable and estimates of uncollectible accounts: 1. Accounts not yet due = $60,000; estimated uncollectible = 3%.2. Accounts 1-30 days past due = $20,000; estimated uncollectible = 20%.3. Accounts more than 30 days past due = $10,000; estimated uncollectible = 50%. Compute the total estimated uncollectible accounts.
What will be an ideal response?
$10,800
Estimated uncollectible accounts = ($60,000 × 3%) + ($20,000 × 20%) + ($10,000 × 50%) = $10,800.
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