Estimating Allowance for Doubtful Accounts Evers Industries has a past history of uncollectible accounts, as follows.
Age Class Percent Uncollectible
Not past due 1 %
1-30 days past due 3
31-60 days past due 12
61-90 days past due 30
Over 90 days past due 75
Estimate the allowance for doubtful accounts, based on the aging of receivables information provided in the chart below.
Evers Industries
Estimate of Allowance for Doubtful Accounts
Balance Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90
Total receivables 1,124,500 607,400 233,000 121,600 96,500 66,000
Percentage uncollectible 1% 3% 12% 30% 75%
Allowance for doubtful accounts

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.

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