Aging of Accounts Receivables:

Red Spoon Company serves large-volume industrial orders, and has determined the following schedule for its accounts receivable collection:

60% payable within one week of invoice date

30% payable within one month of invoice date

10% payable within two months of invoice date.

The following are the credit sales of the company for April to June 2008:

Company Amount Invoice date

Tuna Tops 160,000 April 5, 2008

Celdy's Kitchen 250,000April 28, 2008

Siomai House 450,000May 19, 2008

Tokyo Tokyo 200,000 June 20, 2008

Prepare the collection for these accounts receivable from April to August 2008. Given that the following payments were received as of June 30, 2008, calculated the bad debt expense as of the said date, assuming that all scheduled not received are considered as bad debts:

Company Amount received as of June 30,2008

Tuna Tops 140,000

Celdy's Kitchen 200,000

SIomai House 400,000

Tokyo Tokyo 125,000

1.How much is due for the month of April 2008?

2.How much is due for the month of May 2008?

3.How much is due for the month of June 2008?

4.Given the amount paid as of June 30, 2008 how much bad debt should be recognized as of that date?