ALL ANSWERS should be in excel formulas.

Xercise Cycles Company has provided its year ended accounts receivables that were uncollected. The Controller has asked you to help prepare the Aging of Accounts Receivable Schedule and the corresponding journal entries. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.

1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx).

2) Use the information above to complete the Aging of Accounts Recievable Schedule Below.

Create a formula for each age category, using the Excel IF and AND FUNCTION (fx) to determine where each customer amount belongs.

3) Prepare the adjusting journal entry for recording bad debt expense if the allowance for doubtful accounts had the following unadjusted balance:

4) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts had the following unadjusted balance:

1 Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx) Number of Customer Amount Invoice Date Today's Date Days Unpaid 8 Fitness Mania 9 Health for Life 10 Holistic Health Options 11 Image Reimaging 12 Today's Gym World 13 Whole Life Fitness Center 14 Workouts Unlimited 15 Total 16 6/17/2016 12/31/2016 2,00012/21/2016 12/31/2016 12,75010/12/201612/31/2016 12/5/2016 12/31/2016 4,60011/29/201612/31/2016 15,90011/20/201612/31/2016 10/2/2016 12/31/2016 2,500 7,000 3,800 $48,550