Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of

Aging of Receivables Schedule

The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30:

Not Days Past Due
Past Over
Customer Balance Due 1-30 31-60 61-90 90
Academy Industries Inc. 3,200 3,200
Ascent Company 3,600 3,600
Zoot Company 9,400 9,400
Subtotals 895,400 540,700 197,000 86,000 44,800 26,900

image text in transcribedimage text in transcribedimage text in transcribed

Aging of Receivables Schedule The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30 : 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. an entry, leave it blank. Kirchhoff Industries Aging of Receivables Schedule November 30 Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company Totals

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M.Dater, George Foster, Madhav

14th Edition

978-0132960649, 132960648, 132109174, 978-0132109178

More Books

Students also viewed these Accounting questions

Question

if a companys receivables turnover is 4 x , what does that mean?

Answered: 1 week ago