Aging of Receivables Schedule

The accounts receivable clerk for Evers Industries prepared the following partially completed aging of receivables schedule as of the end of business on July 31:

NotDays Past Due Past OverCustomerBalanceDue1-3031-6061-9090Acme Industries Inc.3,000 3,000 Alliance Company4,500 4,500 Zollinger Company5,000 5,000 Subtotals1,050,000 600,000 220,000 115,000 85,000 30,000

The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals:

CustomerBalanceDue DateBoyd Industries$36,000 April 7Hodges Company11,500 May 29Kent Creek Inc.6,600 June 8Lockwood Company7,400 August 10Van Epps Company13,000 July 2

Question Content Area

a. Determine the number of days past due for each of the preceding accounts as of July 31. If an account is not past due, enter 0.

CustomerDue DateNumber of Days Past DueBoyd IndustriesApril 7fill in the blank 0d31ab02afd7fe3_1 daysHodges CompanyMay 29fill in the blank 0d31ab02afd7fe3_2 daysKent Creek Inc.June 8fill in the blank 0d31ab02afd7fe3_3 daysLockwood CompanyAugust 10fill in the blank 0d31ab02afd7fe3_4 daysVan Epps CompanyJuly 2fill in the blank 0d31ab02afd7fe3_5 days

Question Content Area

b. 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.

CustomerBalanceNot Past DueDays Past Due 1-30Days Past Due 31-60Days Past Due 61-90Days Past Due Over 90Acme Industries Inc.$3,000$3,000$fill in the blank 987557f45005057_1$fill in the blank 987557f45005057_2$fill in the blank 987557f45005057_3$fill in the blank 987557f45005057_4Alliance Company4,500fill in the blank 987557f45005057_54,500fill in the blank 987557f45005057_6fill in the blank 987557f45005057_7fill in the blank 987557f45005057_8Zollinger Company5,000fill in the blank 987557f45005057_9fill in the blank 987557f45005057_105,000fill in the blank 987557f45005057_11fill in the blank 987557f45005057_12Subtotals1,050,000600,000220,000115,00085,00030,000Boyd Industriesfill in the blank 987557f45005057_13fill in the blank 987557f45005057_14fill in the blank 987557f45005057_15fill in the blank 987557f45005057_16fill in the blank 987557f45005057_17fill in the blank 987557f45005057_18Hodges Companyfill in the blank 987557f45005057_19fill in the blank 987557f45005057_20fill in the blank 987557f45005057_21fill in the blank 987557f45005057_22fill in the blank 987557f45005057_23fill in the blank 987557f45005057_24Kent Creek Inc.fill in the blank 987557f45005057_25fill in the blank 987557f45005057_26fill in the blank 987557f45005057_27fill in the blank 987557f45005057_28fill in the blank 987557f45005057_29fill in the blank 987557f45005057_30Lockwood Companyfill in the blank 987557f45005057_31fill in the blank 987557f45005057_32fill in the blank 987557f45005057_33fill in the blank 987557f45005057_34fill in the blank 987557f45005057_35fill in the blank 987557f45005057_36Van Epps Companyfill in the blank 987557f45005057_37fill in the blank 987557f45005057_38fill in the blank 987557f45005057_39fill in the blank 987557f45005057_40fill in the blank 987557f45005057_41fill in the blank 987557f45005057_42Totals$fill in the blank 987557f45005057_43$fill in the blank 987557f45005057_44$fill in the blank 987557f45005057_45$fill in the blank 987557f45005057_46$fill in the blank 987557f45005057_47$fill in the blank 987557f45005057_48