Mirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more efficiently, Mirror Mart decided to change past-due categories as follows. Complete the following. . Complete each table by filling in the blanks. A. Accounts receivable amount Percentage uncollectible Total per category Total uncollectible A. Accounts receivable amount Percentage uncollectible Total per category Total uncollectible 0-30 days past due $50,000 8% 0-60 days past due $80,000 8% 31-90 days past due $30,000 15% 61-120 days past due Determine the difference between total uncollectible. Explain how the new total uncollectible amount affects net income and accounts receivable. $10,000 15% Over 90 days past due $15,000 30% Over 120 days past due $5,000 30%

Mirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more efficiently, Mirror Mart decided to change past-due categories as follows. Complete the following. . Complete each table by filling in the blanks. A. Accounts receivable amount Percentage uncollectible Total per category Total uncollectible A. Accounts receivable amount Percentage uncollectible Total per category Total uncollectible 0-30 days past due $50,000 8% 0-60 days past due $80,000 8% 31-90 days past due $30,000 15% 61-120 days past due Determine the difference between total uncollectible. Explain how the new total uncollectible amount affects net income and accounts receivable. $10,000 15% Over 90 days past due $15,000 30% Over 120 days past due $5,000 30%

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 11EA: Mirror Mart uses the balance sheet aging method to account for uncollectible debt on receivables....

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