question domino company uses the aging of accounts receivable method to estimate unc 4304671

Question

Domino Company uses the aging of accounts receivable method to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $45.350 and $3,560, respectively. During the year, the company wrote off $2.690 in uncollectible accounts. In preparation for the company's Year 2 estimate, Domino prepared the following aging schedule: Number of days Receivables amount % Likely to be uncollectible past due Current 0-30 31-60 61-90 Over 98 Total $ 74,000 27,700 7,160 3,720 3,400 $115,980 1% 5% 18% 25% 50% What will Domino record as Uncollectible Accounts Expense for Year 2? Multiple Choice $1,911 $5,471 $2,690 $4,601