EX 8-11 Estimating doubtful accounts
Traditional Bikes Co. is a wholesaler of motorcycle supplies. An aging of the company’s accounts receivable on December 31, 2014, and a historical analysis of the percentage of uncollectible accounts in each age category are as follows:
| Balance | Percent Uncollectible | |
| Age Interval | $ 740,000 | ½% |
| Not past due | 390,000 | 2 |
| 1–30 days past due | 85,000 | 4 |
| 31–60 days past due | 28,000 | 14 |
| 61–90 days past due | 42,000 | 32 |
| 91–180 days past due | 15,000 | 80 |
| Over 180 days past due | $1,300,000 |
Estimate what the proper balance of the allowance for doubtful accounts should be as of December 31, 2014.
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