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eBook Print Item Aging of Receivables; Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care products to beauty salons throughout
eBook Print Item Aging of Receivables; Estimating Allowance for Doubtful Accounts Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y7: Not Past Days Past Due Customer Balance Due 1-30 31-60 61-90 91-120 Over 120 ABC Beauty 19,500 19,500 Angel Wigs 7,200 7,200 Zodiac Beauty Subtotals 4,400 1,289,800 745,600 4,400 284,900 119,300 42,100 16,900 81,000 The following accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Visions Hair & Nail, which is due in the next year. Customer Due Date Balance Arcade Beauty Aug. 17 $5,500 Creative Images Oct. 30 4,900 Excel Hair Products July 3 8,200 First Class Hair Care Sept. 8 7,000 Golden Images Nov. 23 3,800
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