Jarden Company has credit sales of $3,600,000 for year 2017. On December 31, 2017, the company’s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,500. Jarden prepares a schedule of its December 31, 2017, accounts receivable by age. On the basis of past experience, it estimates the percent of receivables in each age category that will become uncollectible. This information is summarized here. December 31, 2017 Accounts Receivable Age of Accounts Receivable Expected Percent Uncollectible $ 830,000 Not yet due 1.25 % 254,000 1 to 30 days past due 2.00 86,000 31 to 60 days past due 6.50 38,000 61 to 90 days past due 32.75 12,000 Over 90 days past due 68.00 Problem 7-3A Part 1 Required: 1. Estimate the required balance of the Allowance for Doubtful Accounts at December 31, 2017, using the aging of accounts receivable method.

$41,650

Explanation:

The computation of Estimate the required balance of the Allowance for Doubtful Accounts is shown below:-

Particulars     Account receivable    %       Estimated uncollectible

Not yet due       $830,000           1.25%            $10,375

1 to 30 days       $254,000             2%                $5,080

31 to 60 days    $86,000             6.50%             $5,590

61 to 90 days   $38,000               32.75%           $12,445

Over 90 days    $12,000               68.00%           $8,160

Estimated balance                                                $41,650

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

2,283,000

explanation:

i just had to add it