A company has the following balances on December 31, before…
A company has the following balances on December 31, before any year-end adjustments: Accounts Receivable = $180,000 Allowance for Uncollectible Accounts = $10,000 (credit). The company estimates uncollectible accounts based on an aging of accounts receivable as shown below: Age Group Amount Receivable (dollars) Estimated Percent Uncollectible Not yet due 100,000 5% 0 to 60 days past due 60,000 20% More than 60 days past due 20,000 50% Total $ 180,000 Record the adjustment for uncollectible accounts on December 31 by filling in the blanks in the following table. Account Title Debit Credit