EX 8-8 Aging of receivables schedule The accounts receivable clerk for Evers Industries prepared the following partially completed Obj. 4 SHOW ME HOW EXCEL TEMPLATE aging of receivables schedule as of the end of business on July 31: A C DE EIG Not Days Past Due Past Due Over 90 Customer 4 Acme Industries Inc. 5 Aliance Company Balance 3.000 4,500 1-30 31-60 61-90 3.000 4,500 21 Zollinger Company 22 Subtotals 5,000 5,000 1,050.000 600.000 220.000 115,000 85.000 30.000 The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: Due Date April 7 May 29 Balance Customer Boyd Industries Hodges Company $36,000 11,500 Kent Creek Inc. 6,600 7400 June 8 Lockwood Company Van Epps Company August 10 July 2 13,000 A. Determine the number of days past due for each of the preceding accounts as of July 31. B. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. 1-2345

EX 8-8 Aging of receivables schedule The accounts receivable clerk for Evers Industries prepared the following partially completed Obj. 4 SHOW ME HOW EXCEL TEMPLATE aging of receivables schedule as of the end of business on July 31: A C DE EIG Not Days Past Due Past Due Over 90 Customer 4 Acme Industries Inc. 5 Aliance Company Balance 3.000 4,500 1-30 31-60 61-90 3.000 4,500 21 Zollinger Company 22 Subtotals 5,000 5,000 1,050.000 600.000 220.000 115,000 85.000 30.000 The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: Due Date April 7 May 29 Balance Customer Boyd Industries Hodges Company $36,000 11,500 Kent Creek Inc. 6,600 7400 June 8 Lockwood Company Van Epps Company August 10 July 2 13,000 A. Determine the number of days past due for each of the preceding accounts as of July 31. B. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. 1-2345

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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a. b. C. d. e. None of the choices is correct. 11.445% 4.10% 9.16% 11.44%
O O O O 0.021 0.000 0.059 0.081
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