Aging of receivables; estimating allowance for doubtful accounts Instructions Chart of Accounts Starting Question Aging of Receivables Schedule Additional Question Journal Final Instructions Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Tro business on December 31, 20Y4 Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due 2 Past 3 Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 AAA Outfitters 20.200.00 20,200.00 3 Brown Trout Fly Shop 8.000.00 8,000.00 Zigs Fish Adventures 4,100.00 4,100,00 Subtotals 1.304.500.00 748.500.00 297.300.00 117,000.00 38,700.00 23.800.00 79,400.00 The following accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Wolfe Sports, which is due in the ni Customer Due Date Balance Adams Sports & Flies May 22 $4,900 Blue Dun Flies Oct. 10 5,200 Cicada Fish Co. Sept. 29 8,900 eBook Aging of receivables; estimating allowance for doubtful accounts instructions Chart of Accounts Starting Question Aging of Receivables Schedule Additional Question Journal Final Question Instructions The following accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Wolfe Sports, which is due in the next year. Customer Due Date Balance Adams Sports & Flies May 22 $4,900 Blue Dun Flies Oct 10 5,200 Cicada Fish Co Sept. 29 8,900 Deschutes Sports Oct 20 6,600 Green River Sports Nov. 7 3,800 Smith River Co Nov 28 2,000 Western Trout Company Dec. 7 6,400 Wolfe Sports Jan. 20 4,400 Trophy Fish has a past history of uncollectible accounts by age category, as follows: Age Class Not past due Percent Uncollectible 1% 1-30 days past due 3 31-60 days past due 10 61-90 days past due 29 91-120 days past due 41 Over 120 days past due 79 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero 2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. Check My Work 3 more Check My Work uses remaining Aging of receivables; estimating allowance for doubtful accounts Instructions Chart of Accounts Starting Question Aging of Receivables Schedule Additional Question Journa Instructions Deschutes Sports Oct. 20 6,600 Green River Sports Nov 7 3,800 Smith River Co Nov. 28 2,000 Western Trout Company Dec. 7 6,400 Wolfe Sports Jan. 20 4,400 Trophy Fish has a past history of uncollectible accounts by age category, as follows: Age Class Percent Uncollectible Not past due 1% 1-30 days past due 3 31-60 days past due 10 61-90 days past due 29 91-120 days past due 41 Over 120 days past due 79 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero 2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. 3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule. 4. Assume that the allowance for doubtful accounts for Trophy Fish Company has a debit balance of $4,700 before adjustment on December 31 Journalize the adjusting entry for uncollectible accounts. Refer to the Chart of Accounts for exact wording of account titles. 5. Assume that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement? Agine of receivables: estimating allowance for doubtful accounts Chart of Accounts Starting Question Aging of Receivables Schedule Additional Question Jumal Final Question Traphy Fun Company supples fies and thing gear to sporting goods stores and outers throughout the stern United States Theatre in to Trophy Fishpond t on December 31, 2014 Not Deys Past Due Des Past Due Days Past Due Days Past Due Days De Past Customer Blac Due 1-50 31-60 61-90 91-120 Over 120 A 20.200.00 20.300.00 Brown Trout Fly Shop 1.000.00 8,000,00 Zig Fish Ant 4100.00 41000 Substati 1304.500.00 24150000 297.300.00 117,000.00 3800.00 25.800.00 7440000 The following accounts were unintentionaly omitted from the aging schedule Assume all due dates are for the current year except for Wolle Sports, which a in the next year Casio Due Date Balance