ABC Company uses the aging method to estimate uncollectible accounts expense. Prior to
adjustment at December 31, 2020, the Allowance for Doubtful accounts has a credit balance
of $15,670. The following represent the result of an aging of the accounts receivable at
December 31, 2020:
Age groupings
Amount of accounts
receivable
Estimated percentages probably
uncollectible
Not yet due
$220,000
1%
1-60 days past due
$80,000
5%
61-90 days past due
$30,000
20%
Over 90 days past due
$20,000
40%
Based on the above figures, what is the amount of uncollectible accounts expense that should
be recorded as of December 31, 2020?