Question - XYZ Company had a $4,000 credit balance in its allowance for bad debts at January 1, 2013.
At December 31, 2013, XYZ Company prepared the following aging schedule:
|
|
Accounts Receivable
|
% Uncollectible
|
|
not past due
|
$120,000
|
2%
|
|
1-30 days past due
|
40,000
|
5%
|
|
31-60 days past due
|
30,000
|
8%
|
|
61-90 days past due
|
10,000
|
15%
|
|
over 90 days past due
|
2,000
|
50%
|
Based on the above information, XYZ Company reported bad debt expense of $8,200 for 2013.
Calculate the amount of accounts receivable written off as uncollectible by XYZ Company during 2013. Do not use decimals in your answer.