Book Calculator Print Item Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clark for Trophy Fish prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 2015: 1 Not Days Past Due Days Past Due Days Past Due Days Past Due Days Past Due 2 Past 5 Customer Balance 1-30 31-60 61-90 91-120 Over 170 Due 20,700.00 AMA Outfitters 20,700.00 5 Brown Trout Ry Shop 7,100.00 7,100.00 # Zig Fish Adventures 5,900.00 5,900.00 Subtotals 1307,400.00 756,200.00 292,000.00 118,400.00 41,000.00 18,100.00 1.700.00 The following accounts were unintentionally omitted from the aging schedule: Customer Adams Sports & Flies Blue Dun Fles Due Date May 22, 2015 Oct 10, 2015 Sept. 29, 2015 Oct 20, 2015 Balance $5,100 5.400 Cioada Fish Co. 8,200 Deschutos Sports Green River Sports Renith PwC Nov 7, 2015 7.100 3,000 2.00 Nov. 21. 2015 Previous Check My Work 1 more Check My Work uses remaining, Save and EXIT Submit Assignment for Grad eBook Calculator Print Item Blue Dun Flies 5,400 Cicada Fish Co. 8,200 Oct 10, 2015 Sept. 29, 2015 Oct 20, 2015 Nov. 7, 2015 Deschutes Sports Green River Sports 7,100 3,000 Smith River Co. Nov. 28, 2015 2,600 Western Trout Company 6,600 Dec. 7. 2015 Jan 20, 2016 Wolfe Sports 4,900 Trophy Fish has a past history of uncollectible accounts by age category, as follows: Age Class Percent Uncollectible 1% Not past due 1-30 days past due 3 31-60 days past due 9 61-90 days past due 32 41 91-120 days past due Over 120 days past due 85 Required: 1. Determine the number of days past due for each of the preceding accounts. Il an account is not past due, enter a zero. 2. Complete the aging of receivables schedule by adding the orried 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 Toploy Fish Company has a debir balance of $4.400 before adjustment on December 31 2018. Joumalize the adjusting entry for collectible accounts. Refer to the chart of accounts for a Nating or the account tibes the company USOS 6. Assume that the adjusting entry in (1) was inadvertently omitted, how would the mission affect the balance sheet and income statement Check My Work 1 more Check My Work uses remaining Save and Exit Submit As All work saved. 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Customer Due Date Number of Days Past Due Adams Sports & Flies May 22, 2015 days Oct 10, 2015 days Blue Dun Flies Cicada Fish Co. Sept. 29, 2015 days Deschutes Sports Oct. 20, 2015 days Nov. 7. 2015 days Green River Sports Smith River Co. Nov. 28, 2015 days Western Trout Company Dec. 7. 2015 days Wolfe Sports Jan. 20, 2016 days Aging of Receivables Schedule December 31, 2015 Days Past Due Days Past Due Days Past Due Customer Days Past Due Balance Days Past Due 61.90 Not Past Due 1-30 31-60 91-120 Ore 120 3 AAA Outfitters 20,700.00 20,700.00 4 Brown Trout Fly Shop 7,100.00 7,100.00 5 Zigs Fish Adventures 3,900.00 3,900.00 7 Subtotals 1,307,400,00 756,200.00 292.000.00 118400.00 41,000,00 18,100.00 81,700.00 #Adams Sports & Flies 5 Blue Dun Flies 10 Cicada Fish Co. 11 Deschutes Sports Green River Sports 12 15 Smith River Co 14 Western Trout Company Wolfe Sports Totals 15 16 17 Percentage uncollectible Estimate of uncollectible 11 arrinte
