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Tamarisk, Inc. includes the following account among its trade receivables. Hopkins Co. 1/1 Balance forward 854 1/28 Cash (#1710) 1,342 1/20 Invoice #1710 1,342 4/2 Cash (#2116) 1,647 3/14 Invoice #2116 1,647 4/10 Cash...

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Accounting

Tamarisk, Inc. includes the following account among its tradereceivables.

Hopkins Co.

1/1Balance forward8541/28Cash (#1710)1,342
1/20Invoice #17101,3424/2Cash (#2116)1,647
3/14Invoice #21161,6474/10Cash (1/1 Balance)187
4/12Invoice #24122,0824/30Cash (#2412)1,220
9/5Invoice #36146029/20Cash (#3614 and part of #2412)968
10/17Invoice #49121,04510/31Cash (#4912)1,045
11/18Invoice #56812,44012/1Cash (#5681)1,525
12/20Invoice #634797612/29Cash (#6347)976

Age the balance.

Answer & Explanation Solved by verified expert
3.7 Ratings (651 Votes)

Hopkins Co. Balance
1-Jan Balance forward 854 10-Apr Cash (1/1 Balance) 187 667
20-Jan Invoice #1710 1,342 28-Jan Cash (#1710) 1,342 0
14-Mar Invoice #2116 1,647 2-Apr Cash (#2116) 1,647 0
12-Apr Invoice #2412 2,082 30-Apr Cash (#2412) 1,586 496
5-Sep Invoice #3614 602 20-Sep Cash (#3614 and part of #2412) 602 0
17-Oct Invoice #4912 1,045 31-Oct Cash (#4912) 1,045 0
18-Nov Invoice #5681 2,440 1-Dec Cash (#5681) 1,525 915
20-Dec Invoice #6347 976 29-Dec Cash (#6347) 976 0
2078
Balance
1-Jan Cash (1/1 Balance) 667
12-Apr Invoice #2412 496
18-Nov Invoice #5681 915
Total 2078
Aging as on 31 st Dec
Invoice number 0-30 days 31-60 days 61-90 days 90+ days Total
Cash (1/1 Balance) 0 0 0 667 667
Invoice #2412 0 0 0 496 496
Invoice #5681 0 915 0 0 915
Total 2078

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