The aging of Freedom Sales is shown below. Calculate the amount of each periodicity range that is deemed to be uncollectible. The Allowance for Doubtful Accounts carries a credit balance of $1,135.00. Write the adjusting entry for the end of the current year.

ANS:
Est Uncollectible Accts
Age Interval: Balance: Percentage: Amount:
Not past due 750,000 2.50%
1~30 days past due: 47,500 5.00%
31~60 days past due: 21,750 10.00%
61~90 days past due: 11,250 20.00%
91~180 days past due: 5,065 30.00%
181~365 days past due: 2,500 50.00%
Over 365 days past due: 1,145 95.00%
Total: 839,210

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