Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero.
2. Complete the aging of receivables schedule by adding the omitted 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 Trophy Fish Company has a debit balance of $3,500 before adjustment on December 31. Journalize the adjusting entry for uncollectible accounts.
5. Assuming that the adjusting entry in (4) was inadvertently omitted, how would the omission affect the balance sheet and income statement?
Trophy Fish Company supples flies and fishing gear to sporting goods stores and outtiters throughou the western Unted States. The accounts receivable cleck tor Trophy Fish prepared the following partially completed aging of recelvables schedule as of the end of business on December 31, 20Y4: The foliowing accounts were unintentionaby amitted from the aging scheovie. Assume at due dates are for the current year except for Woife Sports, which is due in the next year The following accounts were unintentionally ornitted from the aging schedule. Assume all due dates are for the current year except for Wolfe Sports, which is due in the next year Trophy Fish has a past history of uncollectible accounts by age category, as follows: 1. Determine the number of days past due for each of the proceding accounts. If an account is not past due, enter a zero 2. Complefe the aging of receivables schedule by adding the omitted accounts to the bortom of the schedule and updating the totals. 3. Estimate the allowance for doublful accounts, based on the aging of recervables schedule. 4. Assume that the allowance for doublful accounts for Trophy Fish Cormpany has a dobit balance of $3,500 bofore adfustment on December 31 . Joumafize the adfusting entry for uncollectible accounts. 5. Assuming that the adjusting entry in (4) was inadvortontly omitred, how would the omission affoct the balance shoet and income stafement? 1. Determine the number of days past due for each of the accounts below. If an account is not past due, enter a zero. Aging of Recowables Schedule December 31, 20Y4 \begin{tabular}{|l|l|} \hline 1 & \\ 4 & AMA Outfitters \\ \hline 1 & Beown Trout Fly Shop \\ \hline 5 & \\ \hline 4 & Zigs Figh Adventures \\ \hline \end{tabular} 7. Subtotals 1 Adams 5 ports \& fles 1. Biue Dun Flies 10 Grada Fish Co. 11 Deschutes Sports 11 Green Rlver Sports 1) Smith River Co. 14 Westem Trout Compary is Wolte Sports 14 Totals 1) Percentage uncollectiole 11 Estimate of uncollectible actounts December 31,20Y4 Trophy Fish Company supples flies and fishing gear to sporting goods stores and outtiters throughou the western Unted States. The accounts receivable cleck tor Trophy Fish prepared the following partially completed aging of recelvables schedule as of the end of business on December 31, 20Y4: The foliowing accounts were unintentionaby amitted from the aging scheovie. Assume at due dates are for the current year except for Woife Sports, which is due in the next year The following accounts were unintentionally ornitted from the aging schedule. Assume all due dates are for the current year except for Wolfe Sports, which is due in the next year Trophy Fish has a past history of uncollectible accounts by age category, as follows: 1. Determine the number of days past due for each of the proceding accounts. If an account is not past due, enter a zero 2. Complefe the aging of receivables schedule by adding the omitted accounts to the bortom of the schedule and updating the totals. 3. Estimate the allowance for doublful accounts, based on the aging of recervables schedule. 4. Assume that the allowance for doublful accounts for Trophy Fish Cormpany has a dobit balance of $3,500 bofore adfustment on December 31 . Joumafize the adfusting entry for uncollectible accounts. 5. Assuming that the adjusting entry in (4) was inadvortontly omitred, how would the omission affoct the balance shoet and income stafement? 1. Determine the number of days past due for each of the accounts below. If an account is not past due, enter a zero. Aging of Recowables Schedule December 31, 20Y4 \begin{tabular}{|l|l|} \hline 1 & \\ 4 & AMA Outfitters \\ \hline 1 & Beown Trout Fly Shop \\ \hline 5 & \\ \hline 4 & Zigs Figh Adventures \\ \hline \end{tabular} 7. Subtotals 1 Adams 5 ports \& fles 1. Biue Dun Flies 10 Grada Fish Co. 11 Deschutes Sports 11 Green Rlver Sports 1) Smith River Co. 14 Westem Trout Compary is Wolte Sports 14 Totals 1) Percentage uncollectiole 11 Estimate of uncollectible actounts December 31,20Y4
