question the totals from the savoy company 39 s schedule of accounts receivableby ag 4282678

Question

The totals from the Savoy Company's Schedule of Accounts Receivableby Age as of the end of the current year are shown below.

Account

Balance

Current

1-30

31-60

Over 60

Totals

$11,800

$9,200

$1,500

$600

$500

As of the end of the current year, there is a debit balance of $75in the Allowance for Doubtful Accounts.

To estimate uncollectible accounts use the following rates:

Current 1%

1-30 days past due 5%

31-60 days past due 15%

Over 60 days past due 40%

Compute the amount of the adjusting entry for uncollectibleaccounts expense.