Class: McGraw-Hill/Irwin
Problem 07-02
SUPER STAR
Accounts Receivable by Age Group
Percentage Estimated
Considered Uncollectible
Amount Uncollectible Accounts
Not yet due 1%
1-30 days past due 3%
31-60 days past due 10%
61-90 days past due 20%
Over 90 days past due 50%
Totals
SUPER STAR
General Journal
Trans.
Date Account Titles no. Debit Credit
b. Dec. 31 Uncollectible Accounts Expense
Allowance for Doubtful Accounts
SUPER STAR
Uncollectible percentages:
Group 1 1%
Group 2 3%
Group 3 10%
Group 4 20%
Group 5 50%