8-8 Aging of receivables schedule The accounts receivable clerk for Evers Industries prepared the following...
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Accounting
8-8
Aging of receivables schedule
The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of business on July 31:
Customer
Balance
Not PastDue
Days Past Due1-30
Days Past Due31-60
Days Past Due61-90
Days Past DueOver 90
Acme Industries Inc.
3,000
3,000
Alliance Company
4,500
4,500
Zollinger Company
5,000
5,000
Subtotals
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:
Customer
Balance
Due Date
Boyd Industries
$36,000
April 7
Hodges Company
11,500
May 29
Kent Creek Inc.
6,600
June 8
Lockwood Company
7,400
August 10
Van Epps Company
13,000
July 2
Question Content Area
a. Determine the number of days past due for each of the preceding accounts as of July 31. If an account is not past due, enter 0.
Customer
Due Date
Number of Days Past Due
Boyd Industries
April 7
fill in the blank 1 of 5 days
Hodges Company
May 29
fill in the blank 2 of 5 days
Kent Creek Inc.
June 8
fill in the blank 3 of 5 days
Lockwood Company
August 10
fill in the blank 4 of 5 days
Van Epps Company
July 2
fill in the blank 5 of 5 days
Question Content Area
b. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank.
Customer
Balance
Not PastDue
Days PastDue 1-30
Days PastDue 31-60
Days PastDue 61-90
Days PastDue Over 90
Acme Industries Inc.
$3,000
$3,000
$Acme Industries Inc.
$Acme Industries Inc.
$Acme Industries Inc.
$Acme Industries Inc.
Alliance Company
4,500
Alliance Company
4,500
Alliance Company
Alliance Company
Alliance Company
Zollinger Company
5,000
Zollinger Company
Zollinger Company
5,000
Zollinger Company
Zollinger Company
Subtotals
1,050,000
600,000
220,000
115,000
85,000
30,000
Boyd Industries
Boyd Industries
Boyd Industries
Boyd Industries
Boyd Industries
Boyd Industries
Boyd Industries
Hodges Company
Hodges Company
Hodges Company
Hodges Company
Hodges Company
Hodges Company
Hodges Company
Kent Creek Inc.
Kent Creek Inc.
Kent Creek Inc.
Kent Creek Inc.
Kent Creek Inc.
Kent Creek Inc.
Kent Creek Inc.
Lockwood Company
Lockwood Company
Lockwood Company
Lockwood Company
Lockwood Company
Lockwood Company
Lockwood Company
Van Epps Company
Van Epps Company
Van Epps Company
Van Epps Company
Van Epps Company
Van Epps Company
Van Epps Company
Totals
$Totals
$Totals
$Totals
$Totals
$Totals
a. Determine the number of days past due for each of the preceding accounts as of July 31 . If an account is not past due, enter 0 . Fvare Inductriec Aging of receivables schedule The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of business on July 31 : The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals: a. Determine the number of days past due for each of the preceding accounts as of July 31 . If an account is not past due, enter 0
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