find total outstanding receivables, the percentage of receivables written off out of credit sales, and...
80.2K
Verified Solution
Link Copied!
Question
Accounting
find total outstanding receivables, the percentage of receivables written off out of credit sales, and the percentage per aging category of outstanding receivables
Assume that if the receivable was not paid over the course of the following year, the entire amount is written off. In that case, the corresponding cell in column 5 remains blank. Assume 4 categories of aging receivables: (1) 0-30 days outstanding, (2) 31-60 days outstanding, (3) 61-90 days outstanding, and (4) over 90 days outstanding.
- Column 1: the customer ID - Column 2: the total sale on account and invoiced during the year - Column 3: the account receivable balance outstanding at year-end - Column 4: the date when the invoice was issued - Column 5: the date when the invoice balance was paid off in the following year
