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Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y6:

The following accounts were unintentionally omitted from the aging schedule:

Customer	Due Date	Balance
Adams Sports & Flies	May 22, 20Y6	$4,900
Blue Dun Flies	Oct. 10, 20Y6	5,200
Cicada Fish Co.	Sept. 29, 20Y6	8,300
Deschutes Sports	Oct. 20, 20Y6	6,800
Green River Sports	Nov. 7, 20Y6	3,800
Smith River Co.	Nov. 28, 20Y6	2,900
Western Trout Company	Dec. 7, 20Y6	7,000
Wolfe Sports	Jan. 20, 20Y7	4,400

Trophy Fish has a past history of uncollectible accounts by age category, as follows:

Age Class	Percent Uncollectible
Not past due	1%
130 days past due	2
3160 days past due	8
6190 days past due	30
91120 days past due	39
Over 120 days past due	80

CHART OF ACCOUNTS
Trophy Fish Company
General Ledger
ASSETS 110 Cash 111 Petty Cash 121 Accounts Receivable-Adams Sports & Flies 122 Accounts Receivable-Blue Dun Flies 123 Accounts Receivable-Cicada Fish Co. 124 Accounts Receivable-Deschutes Sports 125 Accounts Receivable-Green River Sports 126 Accounts Receivable-Smith River Co. 127 Accounts Receivable-Western Trout Company 128 Accounts Receivable-Wolfe Sports 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary	REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Selling Expenses 530 Office Salaries Expense 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense

QUESTIONS

2. 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.

Aging of Receivables Schedule

December 31, 20Y6

1				Days Past Due	Days Past Due	Days Past Due	Days Past Due	Days Past Due
2	Customer	Balance	Not Past Due	1-30	31-60	61-90	91-120	Over 120
3	AAA Outfitters	20,600.00	20,600.00
4	Brown Trout Fly Shop	7,200.00			7,200.00
5	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~
6	Zigs Fish Adventures	4,200.00		4,200.00
7	Subtotals	1,301,200.00	751,700.00	287,100.00	126,100.00	37,800.00	23,500.00	75,000.00
8	Adams Sports & Flies
9	Blue Dun Flies
10	Cicada Fish Co.
11	Deschutes Sports
12	Green River Sports
13	Smith River Co.
14	Western Trout Company
15	Wolfe Sports
16	Total
17	Percentage uncollectible
18	Estimate of uncollectible accounts

3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule.......

Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due Past Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 AAA Outfitters 20,600.00 20,600.00 5 Brown Trout Fly Shop 7,200.00 7,200.00 8 Zigs Fish Adventures 4,200.00 4,200.00 Subtotals 1,301,200.00 751,700.00 287,100.00 126,100.00 37,800.00 23,500.00 75,000.00 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Customer Due Date Number of Days Past Due Adams Sports & Flies May 22, 2046 days days Blue Dun Flies Oct. 10, 2016 Cicada Fish Co. Sept. 29, 2046 days Deschutes Sports Oct. 20, 2016 days Green River Sports Nov. 7, 2076 days Smith River Co. Nov. 28, 2046 days Western Trout Company Dec. 7,2046 days Wolfe Sports Jan 20, 2047 days 4. Assume that the allowance for doubtful accounts for Trophy Fish Company has a debit balance of $4.000 before adjustment on December 31, 2016. Journalize the adjusting entry for uncollectible accounts. Refer to the chart of accounts for a listing of the account titles the company uses. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Final Question Tab 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? On the balance sheet, assets would be account would be by because the allowance for doubtful accounts would be because bad debt expense would be and net income by_ by . In addition, the owner's capital on the income statement Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due Past Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 AAA Outfitters 20,600.00 20,600.00 5 Brown Trout Fly Shop 7,200.00 7,200.00 8 Zigs Fish Adventures 4,200.00 4,200.00 Subtotals 1,301,200.00 751,700.00 287,100.00 126,100.00 37,800.00 23,500.00 75,000.00 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Customer Due Date Number of Days Past Due Adams Sports & Flies May 22, 2046 days days Blue Dun Flies Oct. 10, 2016 Cicada Fish Co. Sept. 29, 2046 days Deschutes Sports Oct. 20, 2016 days Green River Sports Nov. 7, 2076 days Smith River Co. Nov. 28, 2046 days Western Trout Company Dec. 7,2046 days Wolfe Sports Jan 20, 2047 days 4. Assume that the allowance for doubtful accounts for Trophy Fish Company has a debit balance of $4.000 before adjustment on December 31, 2016. Journalize the adjusting entry for uncollectible accounts. Refer to the chart of accounts for a listing of the account titles the company uses. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY Final Question Tab 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? On the balance sheet, assets would be account would be by because the allowance for doubtful accounts would be because bad debt expense would be and net income by_ by . In addition, the owner's capital on the income statement

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