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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:

1			Not	Days Past Due	Days Past Due	Days Past Due	Days Past Due	Days Past Due
2			Past
3	Customer	Balance	Due	1-30	31-60	61-90	91-120	Over 120
4	AAA Outfitters	20,900.00	20,900.00
5	Brown Trout Fly Shop	7,000.00			7,000.00
6	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~	~~~~~
7
8	Zigs Fish Adventures	4,000.00		4,000.00
9	Subtotals	1,284,400.00	752,900.00	281,800.00	110,100.00	41,200.00	19,800.00	78,600.00

The following accounts were unintentionally omitted from the aging schedule:

Customer	Due Date	Balance
Adams Sports & Flies	May 22, 20Y6	$4,600
Blue Dun Flies	Oct. 10, 20Y6	4,900
Cicada Fish Co.	Sept. 29, 20Y6	8,100
Deschutes Sports	Oct. 20, 20Y6	7,000
Green River Sports	Nov. 7, 20Y6	3,300
Smith River Co.	Nov. 28, 20Y6	2,400
Western Trout Company	Dec. 7, 20Y6	7,300
Wolfe Sports	Jan. 20, 20Y7	4,600

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	3
3160 days past due	9
6190 days past due	29
91120 days past due	38
Over 120 days past due	75

	Required:
1.	Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero.
2.	Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals.
3.	Estimate the allowance for doubtful accounts, based on the aging of receivables schedule.
4.	Assume that the allowance for doubtful accounts for Trophy Fish Company has a debit balance of $4,800 before adjustment on December 31, 20Y6. Journalize the adjusting entry for uncollectible accounts. Refer to the chart of accounts for a listing of the account titles the company uses.
5.	Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement?
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

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