accounts receivable

A B D E H 1 Instructions: Doofenshmitz Evil Inc. recorded sales of $400,000 in 2020. The unpaid invoices in Accounts Receivable are listed below. Doofenshmirtzuses an accounts receivable aging 2 schedule to measure the allowance for doubtful accounts. The beginning balance in the allowance for doubtful accounts was 57,000. Doofenshmitz wrote off55,000 worth of accounts 3 receivable during the year. Complete the tables below. Hint: The Aging Schedule computation of Bad Debt expense is similar to the Percantage of Receivables method 5 6 Part 1: Calculate the days unpaid for the following open Involces using the 'DAYS' function 7 Customer Invoice Amount Invoice Date Current Date Number of Days Unpaid 8 OW.CA $ 3,500 6/17/20 12/31/20 192 9 Candace Flynn $ 20,500 12/21/20 12/31/20 10 10 Jeremy lohnson $ 1,200 10/12/20 12/31/20 80 11 Isabelle Garcia Shapiro $ 5,000 12/5/20 12/31/20 12 Lawrence Fletcher 26 $ 54,000 11/29/20 12/31/20 32 1) Karl $ 200 11/20/20 12/31/20 14 Phineas Flynn 41 $ 6,700 10/4/20 12/31/20 15 Total Unpaid involces $ 91,100 16 17 Part 2:Calculate the ending balance of the Allowance for Doubtful Accounts by completing the Aging Schedule 111 19 Days overdue Amount in Category Nestimated collectible Estimated Amount Uncollectible 20 0-15 20,500 1% 209 21. 15.10 5,000 2x S 22 30-60 100 54,200 SN 23 60-90 7.900 10% 790 24 90 3.500 SON 1,250 25 Total 91,100 $ 5,555 26 27 Part 3: Calculate the amount of bad debt expense recorded on 12/31/2020 28 29 Allowance for Doubtful Accounts 30 7,000 Beginning Balance 31 Write-offs $5,000 22 Bad Debt Expense 23 5 5.555 Ending Balance 34 35 36 37 30