Instructions Trophy Fish Company supplies flies and fishing gear to sporting goods stores and outfitters throughout the western United States. The accounts receivable clerk for Trophy Fish pre following partially completed aging of receivables schedule as of the end of business on December 31, 20Y4: 1 2 3 4 AAA Outfitters 5 Brown Trout Fly Shop 6 7 Customer 8 Zigs Fish Adventures 9 Subtotals Balance 20,700.00 7,100.00 3,900.00 1,307,400.00 Not Past Due 20,700.00 756,200.00 Days Past Due 1-30 3,900.00 292,000.00 Days Past Due 31-60 7,100.00 118,400.00 Days Past Due Days Past Due 61-90 41,000.00 91-120 18,100.00 Days Past Due Over 120 81,700.00 The following accounts were unintentionally omitted from the aging schedule. Assume all due dates are for the current year except for Wolfe Sports, which is due in the next year.

1. Determine the number of days past due for each of the preceding accounts: M an account is not past due, onter a zero. 2. Complete the aging of recoivabios schedide by adding the omitred accounts to the bortom of the schodule and updating the fotals. 3. Estimate the allowance for doubtif accounts, based on the aging of recervables schedule. 4. Assume that the allowance for doubdul accounts for Trophy Fish Company has a debl balance of 54,400 before adistment on December 31. Joumakre the adjusting entry for uncolectbile accounts. 5. Assuming that the adjusting entry in (4) was inadvertendy omitred, how would the omission affect the balance shevt and income sfatement? Chart of Accounts 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment 533 Insurance Expense 534 Office Supplies Expense 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short an 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payabie 215 Notes Payabie EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Estimate the allowance for doubtful accounts, based on the aging of receivables schedule. Feedback Check My Work 3. The analysis of receivables method places more emphasis on the net realizable value of the receivables and, thus, emphasizes the balance sheet. That is, the amount of the adjusting entry is the amount that will yield an adjusted balance for Allowance for Doubtful Accounts equal to that estimated by the aging schedule. The analysis of receivables method is based on the assumption that the longer an account receivable is outstanding the less likely that it will be collected. Chart of Accounts CHART OF ACCOUNTS Trophy Fish Company General Lodger ASSETS 110 Cash 111 Petty Cash 121 Accounts Recelvable-Adams Sports \& Flies 122 Accounts Recelvable-Blue Dun Flies 123 Accounts Recelvable-Cicada Fish Co: 124 Accounts Rocelvable-Deschutes Sports 125 Accounts Receivable-Green River Sports 126 Accounts Recoivable-Smith River Co. 127 Accounts Receivable-Western Trout Company 128 Accounts Receivable-Wolte Sports 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Roceivable 141 Morchandise Inventory 145 Office Supples REVENUE 410 Sales 610 Interest Revenue 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Sales Salaries Expense 521 Advertising Expense 522. Depreciation Exponse-Store Equipment 523 Defivery Expense 524 Repairs Expense 529 Selling Expenses 530 Omice Salaries Expense 531 Rent Expense 532. Depreciation Expense-Office Equipment 533 Insurance Expense Zess Fish Moventures: 1. Adams Sports 8 Fles 1. Bue Dun Fues (ii) Cicatianco it Deschares Sports al Gene River Sports 10. Smith Raver Co: i4 Westem Tiout Conoumy ii. Woltespors i. fools 4 Frambar uncolinction The following accounts were unintentionaly omitted from the aging schedule. Assume all due datos are for the current year except for Wolfe Sports, which is due in the next yeat. Trophy Fish has a past history of uncolecthio accounts by age category, as lollows: uncollectible accounts. MI transoctions on this poge must be entered (except for post ref(s)) before you will receive Check My Work feedbock. Aging of receivables; estimating allowance for doubtful accounts Starting Question 1. Determine the number of days past due tor each of the accounts below. If an account is not past due, enter a zoro. Additional instruction Question not attempted. Frophy Fish Company supplies flies and fishing gear to sporting goods stores and outlitters throughout the westem United States. The accounts feceivable clerk for Trophy Fish folowing partialy completed aging of recelvabies schedule as of the end of business on Decomber 31, 20Y4