Techno Designs Store uses the accounts receivable aging

method to
Techno Designs Store uses the accounts receivable aging method to estimate uncollectible
accounts. On February 1, 2014, the balance of the Accounts Receivable account was a debit of
$442,341, and the balance of Allowance for Uncollectible Accounts was a credit of $43,700.
During the year, the store had sales on account of $3,722,000, sales returns and allowances of
$60,000, worthless accounts written off of $44,300, and collections from customers of
$3,211,000. As part of the end-of-year (January 31, 2015) procedures, an aging analysis of
accounts receivable is prepared. The analysis, which is partially complete, follows.To finish the
analysis, the following accounts need to be classified:From past experience, the company has
found that the following rates are realistic for estimating uncollectible accounts: Percentage
Considered Time Uncollectible Not yet due ......... 21–30 days past due ...... 531–60 days past
due ....... 1561–90 days past due ....... 25Over 90 days past due ...... 50Required1. Complete
the aging analysis of accounts receivable.2. Compute the end-of-year balances (before
adjustments) of Accounts Receivable and Allowance for Uncollectible Accounts.3. Prepare an
analysis computing the estimated uncollectible accounts. (Round to the nearest whole dollar.)4.
How much is Techno Designs Store’s estimated uncollectible accounts expense for the year?
(Round the adjustment to the nearest whole dollar.)5. What role do estimates play in applying
the aging analysis? What factors might affect theseestimates?
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Techno Designs Store uses the accounts receivable aging method to
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