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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. 2,500 2,500 Ascent Company 4,500 4,500 Zoot Company 10,400 10,400 Subtotals 694,000 419,200 152,700 66,600 34,700 20,800 The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above: Customer Balance Due Date Conover Industries $9,700 July 9 Keystone Company 6,900 September 20 Moxie Creek Inc. 13,900 October 16 Rainbow Company November 3 8,300 18,700 Swanson Company December 21 a. Determine the number of days past due for each of the preceding accounts as of November 30. If an account is not past due, enter 0. Customer Due Date Number of Days Past Due Conover Industries July 9 days Keystone Company September 20 days Moxie Creek Inc. October 16 days Rainbow Company November 3 days Swanson Company December 21 days 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. Kirchhoff Industries Aging of Receivables Schedule November 30 Customer Balance Not Past Days Past Days Past Days Past Days Past Due Due 1-30 Due 31-60 Due 61-90 Due Over 90 Academy Industries Inc. 2,500 2,500 Ascent Company 4,500 4,500 Zoot Company 10,400 10,400 Subtotals 694,000 419,200 152,700 66,600 34,700 20,800 Conover Industries Keystone Company Moxie Creek Inc. Rainbow Company Swanson Company Totals
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