Obj 4 The accounts receivable clerk for Evers Industries prepared the following partially completed X EX 8-8 Aging of receivables schedule aging of receivables schedule as of the end of business on July 31: C G\ Not Days Past Due 2 Past Over 1-30 31-60 61-90 90 Customer 4 Acme Industries Inc. 5 Alliance Company 3 Balance Due 3,000 3,000 4,500 4,500 21 Zollinger Company 22 Subtotals 5,000 5,000 1,050,000 600,000 220,000 115,000 85,000 30,000
Obj 4 The accounts receivable clerk for Evers Industries prepared the following partially completed X EX 8-8 Aging of receivables schedule aging of receivables schedule as of the end of business on July 31: C G\ Not Days Past Due 2 Past Over 1-30 31-60 61-90 90 Customer 4 Acme Industries Inc. 5 Alliance Company 3 Balance Due 3,000 3,000 4,500 4,500 21 Zollinger Company 22 Subtotals 5,000 5,000 1,050,000 600,000 220,000 115,000 85,000 30,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Only exercise 8-8 thank you!
![credit terms are n/30. As of the end of business on October 31, the tollowing
dealers throughout th
accounts receivable were past due:
Account
Avalanche Auto
Bales Auto
Derby Auto Repair
Lucky's Auto Repair
Pit Stop Auto
Reliable Auto Repair
Due Date
Amount
August 15
October 4
June 26
September 10
September 24
July 2
August 25
May 23
$12,000
SHOW ME HOW
2,400
3,900
6,600
1,100
9,750
Trident Auto
1,800
Valley Repair & Tow
4,000
Determine the number of days each account is past due as of October 31.
X EX 8-8 Aging of receivables schedule
The accounts receivable clerk for Evers Industries prepared the following partially compl
aging of receivables schedule as of the end of business on July 31:
Obj4
SHOW ME HOW EXCEL TEMPLATE
B
G
Not
Days Past Due
SHOW ME HOW
Past
Over
Customer
4 Acme Industries Inc.
5 Alliance Company
Balance
Due
1-30
31-60
61-90
90
3,000
4,500
3,000
4,500
v. $8,225 higher
21 Zollinger Company
22 Subtotals
5,000
5,000
1,050,000 600,000 220,000 115,000 |
85,000 30,000
SHOW ME HOW
The following accounts were unintentionally omitted from the aging schedule and not included
in the preceding subtotals:
Customer
Balance
Due Date
Boyd Industries
Hodges Company
Kent Creek Inc.
Lockwood Company
Van Epps Company
$36,000
April 7
May 29
June 8
11,500
6,600
7,400
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 bottomu
the schedule and updating the totals.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faf5c43af-e004-4235-beff-f6450efbda50%2F5fadc7b9-b69c-4daa-b3ca-8e94f97b0f01%2Fwfehia_processed.jpeg&w=3840&q=75)
Transcribed Image Text:credit terms are n/30. As of the end of business on October 31, the tollowing
dealers throughout th
accounts receivable were past due:
Account
Avalanche Auto
Bales Auto
Derby Auto Repair
Lucky's Auto Repair
Pit Stop Auto
Reliable Auto Repair
Due Date
Amount
August 15
October 4
June 26
September 10
September 24
July 2
August 25
May 23
$12,000
SHOW ME HOW
2,400
3,900
6,600
1,100
9,750
Trident Auto
1,800
Valley Repair & Tow
4,000
Determine the number of days each account is past due as of October 31.
X EX 8-8 Aging of receivables schedule
The accounts receivable clerk for Evers Industries prepared the following partially compl
aging of receivables schedule as of the end of business on July 31:
Obj4
SHOW ME HOW EXCEL TEMPLATE
B
G
Not
Days Past Due
SHOW ME HOW
Past
Over
Customer
4 Acme Industries Inc.
5 Alliance Company
Balance
Due
1-30
31-60
61-90
90
3,000
4,500
3,000
4,500
v. $8,225 higher
21 Zollinger Company
22 Subtotals
5,000
5,000
1,050,000 600,000 220,000 115,000 |
85,000 30,000
SHOW ME HOW
The following accounts were unintentionally omitted from the aging schedule and not included
in the preceding subtotals:
Customer
Balance
Due Date
Boyd Industries
Hodges Company
Kent Creek Inc.
Lockwood Company
Van Epps Company
$36,000
April 7
May 29
June 8
11,500
6,600
7,400
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 bottomu
the schedule and updating the totals.
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