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Accounting
Customer Name Total Due 0-30 Days 31-60 days 61-90 days 91-120 days Over 120 4210119 Ont Ltd 261,181 155,894 50,199 50,094 4,994 43rd Street Place 6,625 6,494 131 6 Star Services 9900 International Corp A1 Distributions Aylmer Enterprises Booktime Services 65,675 31,310 30,699 3,666 140,792 90,981 49,811 130,734 65,944 62,902 944 944 137,818 134,586 3,232 99,797 99,643 154 Вох Тор Inc Briar Forest Corp 49,049 13,031 13,031 13,031 9,956 2,942 1,443 1,499 Cavhill Industries 122,223 61,999 60,113 111 Colborne Corp Copper Gallery Dairy Ashford Corp Demilo Inc Dustin Enterprises Greenway Place Grosvenor Limited 1,313 1,313 12,036 12,036 16,499 16,499 83,336 190,811 36,785 39,941 6,610 64,452 64,161 60,644 1,554 104,873 71,548 31,661 1,664 42,877 35,844 7,033 Houston Consultants Jesse Blackstone Joseph Company Lawrence Brothers 48,464 1,319 10,699 36,446 22,680 9,846 9,846 1,494 1,494 101,407 31,599 36,510 32,649 649 58,561 18,846 19,844 19,460 411 Mapleton Express OKC Limited Oxford Distributing Paper Brands Plaid Corp Quality Logistics 19,048 18,936 112 23,376 9,856 9,856 3,664 20,535 9,884 10,651 105,790 12,636 9,664 36,944 46,546 38,631 12,500 12,500 12,500 131 1,000 24,565 2,131 2,236 2,066 1,691 16,441 TC Jester 100,665 49,666 49,666 1,333 Wellington Limited Westella Drive LTD Woodplank Inc. Yellow Street Ltd 138,144 65,478 72,666 14,410 6,944 6,411 1,055 1,065 1,065 1,328 664 664 Zephyr Limited 636 318 318 ТOTAL 2,187,886 1,138,389 662,712 283,942 70,747 32,096

Customer Name Total Due 0-30 Days 31-60 days 61-90 days 91-120 days Over 120 4210119 Ont Ltd 261,181 155,894 50,199 50,094 4,994 43rd Street Place 6,625 6,494 131 6 Star Services 9900 International Corp A1 Distributions Aylmer Enterprises Booktime Services 65,675 31,310 30,699 3,666 140,792 90,981 49,811 130,734 65,944 62,902 944 944 137,818 134,586 3,232 99,797 99,643 154 Вох Тор Inc Briar Forest Corp 49,049 13,031 13,031 13,031 9,956 2,942 1,443 1,499 Cavhill Industries 122,223 61,999 60,113 111 Colborne Corp Copper Gallery Dairy Ashford Corp Demilo Inc Dustin Enterprises Greenway Place Grosvenor Limited 1,313 1,313 12,036 12,036 16,499 16,499 83,336 190,811 36,785 39,941 6,610 64,452 64,161 60,644 1,554 104,873 71,548 31,661 1,664 42,877 35,844 7,033 Houston Consultants Jesse Blackstone Joseph Company Lawrence Brothers 48,464 1,319 10,699 36,446 22,680 9,846 9,846 1,494 1,494 101,407 31,599 36,510 32,649 649 58,561 18,846 19,844 19,460 411 Mapleton Express OKC Limited Oxford Distributing Paper Brands Plaid Corp Quality Logistics 19,048 18,936 112 23,376 9,856 9,856 3,664 20,535 9,884 10,651 105,790 12,636 9,664 36,944 46,546 38,631 12,500 12,500 12,500 131 1,000 24,565 2,131 2,236 2,066 1,691 16,441 TC Jester 100,665 49,666 49,666 1,333 Wellington Limited Westella Drive LTD Woodplank Inc. Yellow Street Ltd 138,144 65,478 72,666 14,410 6,944 6,411 1,055 1,065 1,065 1,328 664 664 Zephyr Limited 636 318 318 ТOTAL 2,187,886 1,138,389 662,712 283,942 70,747 32,096

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Analyze and review the following items and determine the appropriate journal entry.

Total Due 0-30 Days 31-60 days 61-90 days 91-120 days Over 120 Customer Name 4210119 Ont Ltd 43rd Street Place 261,181 155,894 50,199 50,094 4,994 6,625 6,494 131 6 Star Services 65,675 31,310 30,699 3,666 9900 International Corp A1 Distributions Aylmer Enterprises Booktime Services Воx Tор Inc Briar Forest Corp Cavhill Industries Colborne Corp Copper Gallery Dairy Ashford Corp Demilo Inc Dustin Enterprises Greenway Place Grosvenor Limited Houston Consultants Jesse Blackstone Joseph Company Lawrence Brothers Mapleton Express OKC Limited Oxford Distributing Paper Brands Plaid Corp Quality Logistics TC Jester Wellington Limited Westella Drive LTD Woodplank Inc. Yellow Street Ltd Zephyr Limited 140,792 90,981 49,811 130,734 65,944 62,902 944 944 137,818 134,586 3,232 99,797 99,643 154 49,049 13,031 13,031 13,031 9,956 2,942 1,443 1,499 122,223 61,999 60,113 111 1,313 1,313 12,036 12,036 16,499 16,499 83,336 36,785 39,941 6,610 190,811 64,452 64,161 60,644 1,554 104,873 71,548 31,661 1,664 42,877 35,844 7,033 48,464 1,319 10,699 36,446 22,680 9,846 9,846 1,494 1,494 101,407 31,599 36,510 32,649 649 58,561 18,846 19,844 19,460 411 19,048 18,936 112 23,376 9,856 9,856 3,664 20,535 9,884 10,651 105,790 12,636 9,664 36,944 46,546 38,631 12,500 12,500 12,500 131 1,000 24,565 2,131 2,236 2,066 1,691 16,441 100,665 49,666 49,666 1,333 138,144 65,478 72,666 14,410 6,944 6,411 1,055 1,065 1,065 1,328 664 664 636 318 318 TOTAL 2,187,886 1,138,389 662,712 283,942 70,747 32,096
Transcribed Image Text:Total Due 0-30 Days 31-60 days 61-90 days 91-120 days Over 120 Customer Name 4210119 Ont Ltd 43rd Street Place 261,181 155,894 50,199 50,094 4,994 6,625 6,494 131 6 Star Services 65,675 31,310 30,699 3,666 9900 International Corp A1 Distributions Aylmer Enterprises Booktime Services Воx Tор Inc Briar Forest Corp Cavhill Industries Colborne Corp Copper Gallery Dairy Ashford Corp Demilo Inc Dustin Enterprises Greenway Place Grosvenor Limited Houston Consultants Jesse Blackstone Joseph Company Lawrence Brothers Mapleton Express OKC Limited Oxford Distributing Paper Brands Plaid Corp Quality Logistics TC Jester Wellington Limited Westella Drive LTD Woodplank Inc. Yellow Street Ltd Zephyr Limited 140,792 90,981 49,811 130,734 65,944 62,902 944 944 137,818 134,586 3,232 99,797 99,643 154 49,049 13,031 13,031 13,031 9,956 2,942 1,443 1,499 122,223 61,999 60,113 111 1,313 1,313 12,036 12,036 16,499 16,499 83,336 36,785 39,941 6,610 190,811 64,452 64,161 60,644 1,554 104,873 71,548 31,661 1,664 42,877 35,844 7,033 48,464 1,319 10,699 36,446 22,680 9,846 9,846 1,494 1,494 101,407 31,599 36,510 32,649 649 58,561 18,846 19,844 19,460 411 19,048 18,936 112 23,376 9,856 9,856 3,664 20,535 9,884 10,651 105,790 12,636 9,664 36,944 46,546 38,631 12,500 12,500 12,500 131 1,000 24,565 2,131 2,236 2,066 1,691 16,441 100,665 49,666 49,666 1,333 138,144 65,478 72,666 14,410 6,944 6,411 1,055 1,065 1,065 1,328 664 664 636 318 318 TOTAL 2,187,886 1,138,389 662,712 283,942 70,747 32,096
a. Calculate bad debt On December 31, after many attempts at collecting the outstanding balance of Copper Gallery, the controller decided to write off that balance. Aylmer calculates bad debt on trade receivables only, not on project receivables. Bad debt is estimated to be: 0-30 days 31 – 60 days 5% 61 – 90 days 7.5% 91 – 120 days 10% Over 120 days 15% 1% In the excel spreadsheet, see the tab labelled “Trade Accounts Receivable Detail" to perform any necessary calculations.
Transcribed Image Text:a. Calculate bad debt On December 31, after many attempts at collecting the outstanding balance of Copper Gallery, the controller decided to write off that balance. Aylmer calculates bad debt on trade receivables only, not on project receivables. Bad debt is estimated to be: 0-30 days 31 – 60 days 5% 61 – 90 days 7.5% 91 – 120 days 10% Over 120 days 15% 1% In the excel spreadsheet, see the tab labelled “Trade Accounts Receivable Detail" to perform any necessary calculations.
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