IDNLearn.com provides a collaborative platform for sharing and gaining knowledge. Ask your questions and get detailed, reliable answers from our community of experienced experts.

gray company estimates its doubtful accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. the gray company computes a total of $3,600 in estimated doubtful accounts as of december 31. its accounts receivable account has a balance of $112,800 and its allowance for doubtful accounts has a credit balance of $600 before adjustment at december 31.