(Solution) - The accounts receivable clerk for Summit Industries prepared the following -(2025 Original AI-Free Solution)

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The accounts receivable clerk for Summit Industries prepared the following partially shown aging of receivables schedule as at the end of business on November 30:

Summit Industries has a past history of uncollectible accounts, as shown below. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule.
Age Class
Not past due ............1%
1?30 days past due .........6
31?60 days past due ........20
61?90 days past due ........35
Over 90 days past due ........50