Question 24: An aging analysis of Blossom Company's accounts receivable at December 31, 2020 and 2021, showed the following:
Account Receivable Number of Days Outstanding Current Uncollectible 0-30 days 1% $94,000 $115,000 31-60 days 5% $23,500 $57,500 61-90 days 12% $47,000 $34,500 Over 90 days 25% $70,500 $23,000 Total $235,000 $230,000
Additional information:
1. At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts was a credit of $5,600.
2. In 2021, $23,500 of accounts was written off as uncollectible and $2,200 of accounts previously written off was collected.
Calculate the carrying amount of Blossom's accounts receivable at December 31, 2020, and December 31, 2021.
Account Receivable Number of Days Outstanding Current Uncollectible 0-30 days 31-60 days 61-90 days Over 90 days Total
December 31, 2020 $94,000 $23,500 $47,900 $70,500 $235,000
December 31, 2021 $115,000 $57,500 $34,500 $23,000 $230,000