DOUBTFUL ACCOUNTS

26. Sullivan Co.’s accounts receivable show the following balances by age:
Age of Receivable Balance
0-30 days $600,000
31-60 days 175,000
61-120 days 70,000
more than 120 days 10,000
The credit balance in the allowance for uncollectible accounts is $2,500. Sullivan Co. uses the following percentages to c…