EX 9-11 Estimating doubtful accounts
Imperial Bikes Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31, 2012, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows:
| Percent | ||
| Age Interval | Balance | Uncollectible |
| Not past due | $600,000 | ¼% |
| 1–30 days past due | 120,000 | 2 |
| 31–60 days past due | 60,000 | 3 |
| 61–90 days past due | 45,000 | 10 |
| 91–180 days past due | 26,000 | 40 |
| Over 180 days past due | 24,000 | 75 |
| $875,000 |
Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2012.
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