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Question
A company has the following accounts receivable and estimates of uncollectible accounts:
1. Accounts not yet due = $60,000; estimated uncollectible = 3%.
2. Accounts 130 days past due = $20,000; estimated uncollectible = 20%.
3. Accounts more than 30 days past due = $10,000; estimated uncollectible = 50%.
Compute the total estimated uncollectible accounts.
Answer
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