5 points XD 5 Aging of accounts receivable method - Excel ? 5 X Skipped FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In - 11 eBook Print References Calibri AA % Paste BIU Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles X fax Xercise Cycles Company sells exercise equipment to gyms on account. At year A B D E G Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected 2 3 4 Required: 5 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 6 7 Number of 8 8 Customer Amount Invoice Date Today's Date Today's Date Days Unpaid 9 Fitness Mania S 2,500 6/17/2016 12/31/2016 10 Health for Life 1,900 12/21/2016 12/31/2016 11 Holistic Health Options 12,750 10/12/2016 12/31/2016 12 Image Reimaging 7,000 12/5/2016 12/31/2016 13 Today's Gym World 4,600 11/29/2016 12/31/2016 14 Whole Life Fitness Center 15,900 11/20/2016 12/31/2016 15 Workouts Unlimited 3,800 10/2/2016 12/31/2016 16 Total S 48,450 17 18 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 19 If nothing belongs in a cell, leave it blank. Calculate each "Total" cell by USING THE EXCEL SUM FUNCTION (fx) and 20 include all possible cells, even if blank 21 17 18 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 19 If nothing belongs in a cell, leave it blank. Calculate each "Total" cell by USING THE EXCEL SUM FUNCTION (fx) and 20 include all possible cells, even if blank 21 22 23 Number of Days Unpaid 31-60 61-90 24 0-30 Over 90 Total 25 26 27 28 29 Customer Fitness Mania Health for Life Holistic Health Options Image Reimaging Today's Gym World Whole Life Fitness Center Workouts Unlimited Total Accounts Receivable Estimated Uncollectible( %) Estimated Uncollectible ($) 30 31 32 33 2% 10% 25% 45% 34 35 36 37 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts had the following unadjusted balance: 38 Allowance for Doubtful Accounts $ 250 credit balance 39 40 Bad Debt Expense 41 Allowance for Doubtful Accounts 42 43 44 4) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts had the following unadjusted balance: 45 Allowance for Doubtful Accounts $ 1,500 credit balance 46 47 Bad Debt Expense Allowance for Doubtful Accounts 48 49 50 51 52