2. Accounting
3. aging method information current 0 30 days past due...

# Question: aging method information current 0 30 days past due...

###### Question details
 Aging Method Information Current 0 - 30 Days Past Due 31 - 60 Days Past Due 61 - 90 Days Past Due > 90 Days Past Due Total Amount Past experience ratio
 Past experience ratio for % of sales method Facts: Accounts receivable balance (beg) Sales on account Collections on account Write-offs of accounts receivable Accounts receivable balance (end) Percentage of Sales Method Allowance for uncollectible accounts (beg) Write-offs of accounts receivable Uncollectible accounts expense Allowance for Uncollectible accounts (end) Aging Method Allowance for uncollectible accounts (beg) Write-offs of accounts receivable Uncollectible accounts expense

Rosey's Roses had sales on account of $345,000, collections of$337,000 write-offs of $3,700, a beginning balance in accounts receivable of$37,000, and a beginning balance in the allowance for uncollectible accounts of $1,200. At year end,$34,000 of accounts receivable were current, $4,900 were 0-30 days past due, and$400 were over 90 days past due. The company believes 1.0 percent of sales will not be collected. They also have experience suggesting that 3% of all current receivables, 5% of receivables 0-30 days past due, 15 percent of receivables 31-60 days past due, 20 percent of receivables 61-90 days past due, and 40% of receivables over 90 days past due will not be collected. Use the third worksheet of the workbook to answer this problem: a. Complete an allowance for uncollectible accounts analysis using the percentage of sales method. b. Complete an allowance for uncollectible accounts analysis using the aging method. Need to show formulas in excel