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Exercise 7-11 Flounder, Inc. includes the following account among its trade receivables. Hopkins Co. 1/1 Balance forward 760 1/28 Cash (#1710) 1,190 1/20 Invoice #1710

Exercise 7-11

Flounder, Inc. includes the following account among its trade receivables.

Hopkins Co.

1/1

Balance forward

760

1/28

Cash (#1710)

1,190

1/20

Invoice #1710

1,190

4/2

Cash (#2116)

1,520

3/14

Invoice #2116

1,520

4/10

Cash (1/1 Balance)

256

4/12

Invoice #2412

2,110

4/30

Cash (#2412)

1,080

9/5

Invoice #3614

490

9/20

Cash (#3614 and part of #2412)

908

10/17

Invoice #4912

930

10/31

Cash (#4912)

930

11/18

Invoice #5681

2,110

12/1

Cash (#5681)

1,308

12/20

Invoice #6347

860

12/29

Cash (#6347)

860

Age the balance.

Balance 1/11/20 (Invoice #1710)3/14 (Invoice #2116)4/12 (Invoice #2412)9/5 (Invoice #3614)10/17 (Invoice #4912)11/18 (Invoice #5681)12/20 (Invoice #6347)

$

Less than 1 month1 month to 3 months3 months to 6 months6 months to 1 yearOver 1 year

Balance 1/11/20 (Invoice #1710)3/14 (Invoice #2116)4/12 (Invoice #2412)9/5 (Invoice #3614)10/17 (Invoice #4912)11/18 (Invoice #5681)12/20 (Invoice #6347)

Less than 1 month1 month to 3 months3 months to 6 months6 months to 1 yearOver 1 year

Balance 1/11/20 (Invoice #1710)3/14 (Invoice #2116)4/12 (Invoice #2412)9/5 (Invoice #3614)10/17 (Invoice #4912)11/18 (Invoice #5681)12/20 (Invoice #6347)

Less than 1 month1 month to 3 months3 months to 6 months6 months to 1 yearOver 1 year

$

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