Vcalculate zuo software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts. 1. accounts not yet due $400,000; estimated uncollectible 8 %. 2. accounts 1-30 days past due $50,000; estimated uncollectible 15 %. 3. accounts 31-90 days past due $40,000; estimated uncollectible 30% 4 accounts more than 90 days past due $30,000; estimated uncollectible 50% . e 7-14 uncollectible accounts using the aging method; record adjustments at 12/31/2021, before recording any adjustments, zuo has a credit balance of $22,000 in its allowance for uncollectible accounts. lo7-5, lo7-6 required: 1. estimate the appropriate 12/31/2021 balance for zuo's allowance for uncollectible accounts 2. what journal entry should zuo record to adjust its allowance for uncollectible accounts? 3. calculate zuo's 12/31/2021 net accounts receivable balance.

Consider the following explanations

Explanation:

1). Balance of allowance for uncollectible accounts on 12/31/2021 is $66,500.

2). Journal entry for adjusting the allowance for uncollectible account is :

Here we already have $22,000 credit balance in allowace for uncollectible account and hence adjusting entry is of $44,500 which makes the ending balance of allowace for uncollectible account to $66,500 credit.

3). Net account receivable balance on 12/31/2021:

Accounts receivables total = $520,000

Less: Allowance for uncollectible account = $66,500

Net Account Receivables = $453,500

answer: b. false

the staff is a set of five horizontal lines and four spaces which represent a different musical pitch. the lines and the spaces are numbered from bottom to top, the bottom line is the first line and the fifth line is the line on the top. the notes on the top of the staff (fifth line) have a higher pitch than a note at the bottom of the staff.