Question
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
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 |
Arcade Beauty | Aug. 17 | 136 days |
Creative Images | Oct. 30 | 62 days |
Excel Hair Products | July 3 | 181 days |
First Class Hair Care | Sept. 8 | 114 days |
Golden Images | Nov. 23 | 38 days |
Oh That Hair | Nov. 29 | 32 days |
One Stop Hair Designs | Dec. 7 | 24 days |
Visions Hair & Nail | Jan. 11 | 0 days |
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.
Wig Creations Company | |||||||
Aging of Receivables Schedule | |||||||
December 31, 20Y7 | |||||||
Customer | Balance | Not Past Due | Days Past Due 1-30 | Days Past Due 31-60 | Days Past Due 61-90 | Days Past Due 91-120 | Days Past Due Over 120 |
ABC Beauty | 19,100 | 19,100 | |||||
Angel Wigs | 7,700 | 7,700 | |||||
Zodiac Beauty | 4100 | 4100 | |||||
Subtotals | 1,303,000 | 759,800 | 282,200 | 128,500 | 35,300 | 18,200 | 79,000 |
Arcade Beauty | |||||||
Creative Images | 8500 | ||||||
Excel Hair Products | 6900 | ||||||
First Class Hair Care | |||||||
Golden Images | |||||||
Oh That Hair | |||||||
One Stop Hair Designs | |||||||
Visions Hair & Nail | |||||||
Totals | |||||||
Percent uncollectible (%) | % | % | % | % | % | % | |
Estimate of uncollectible accounts | $ | $ | $ | $ | $ | $ | $ |
Can someone please explain to me why this is the correct answer for question 2 for these particular brands when the question 1 CLEARLY STATES the days past due and question 2 says it's wrong and the answer listed is the correct answer. I do not understand.
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