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Aging of Receivables Schedule The accounts receivable clerk for Evers Industries prepared the following partially completed...

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 November 30:

Not Days Past Due
Past Over
Customer Balance Due 1-30 31-60 61-90 90
Acme Industries Inc. 3,600 3,600
Alliance Company 6,000 6,000
Zollinger Company 8,900 8,900
Subtotals 873,000 527,200 192,100 83,800 43,700 26,200

The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above:

Customer     Balance Due Date
Boyd Industries $12,200 July 9
Hodges Company 8,700 September 20
Kent Creek Inc. 17,500 October 16
Lockwood Company 10,500 November 4
Van Epps Company 23,600 December 21

a. Determine the number of days past due for each of the preceding accounts as of November 30. If an account is not past due, enter 0.

Customer Due Date Number of Days Past Due
Boyd Industries July 9 days
Hodges Company September 20 days
Kent Creek Inc. October 16 days
Lockwood Company November 4 days
Van Epps Company December 21 days

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.

Evers Industries
Aging of Receivables Schedule
November 30
Customer Balance Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90
Acme Industries Inc. $3,600 $3,600 $ $ $ $
Alliance Company 6,000 6,000
Zollinger Company 8,900 8,900
Subtotals 873,000 527,200 192,100 83,800 43,700 26,200
Boyd Industries
Hodges Company
Kent Creek Inc.
Lockwood Company
Van Epps Company
Totals $ $ $ $ $ $

Solutions

Expert Solution

ans 1
Customer Due Date To date Calculation Number of Days Past Due
Boyd Industries 9-Jul 30-Nov 22+31+30+31+30 144 days
Hodges Company 20-Sep 30-Nov 10+31+30 71 days
Kent Creek Inc. 16-Oct 30-Nov 15+30 45 days
Lockwood Company 4-Nov 30-Nov 26 26 days
Van Epps Company 21-Dec 30-Nov 0 0 Days
ans 2
Evers Industries
Aging of Receivables Schedule
30-Nov
Customer Balance Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90
Acme Industries Inc. $3,600 $3,600 $ $ $ $
Alliance Company 6,000 6,000
Zollinger Company 8,900 8,900
Subtotals 873,000 527,200 192,100 83,800 43,700 26,200
Boyd Industries 12200
Hodges Company 8700
Kent Creek Inc. 17500
Lockwood Company 10500
Van Epps Company 23600
Totals 873,000 550,800 202,600 101,300 52,400 38,400
If any doubt please comment

ekkarill92 answered 1 year ago
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