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Just Formulas DaysLate - EOM Due Date - 2/10, net 30 DaysLate - 2/10,n/30 Day of Week 1 Customer 2 Steffen, Malinda 3 Zook, Corrinne
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DaysLate - EOM Due Date - 2/10, net 30 DaysLate - 2/10,n/30 Day of Week 1 Customer 2 Steffen, Malinda 3 Zook, Corrinne 4 Mccain, Elba 5 Baca, Tressa 6 Pennell, Willena 7 Mathias, Debrah 8 Whited, Un 9 Mclean, Eldora 10 Silverman, Delmar 11 Thigpen, Mia Invoice AmountInvoiceDate Due Date - EOM $3,282.00 10/1/2013 $1,718.00 10/4/2013 $6,448.00 10/5/2013 $175.00 10/6/2013 $1,440.00 10/6/2013 $1,416.00 10/10/2013 $4,797.00 10/10/2013 $1,929.00 10/14/2013 $2,237.00 10/15/2013 $5,517.00 10/17/2013 Midler Corporation operates in an industry that has a high rate of bad debts and uses the allowance method to account for its bad debt expenses. Before any year-adjustment on 7/1/2014, Midler's accountant compiled a list of overdue account receivables, showing customer names, invoices amounts, and invoice dates. Also, Midler's accountant subjectively estimated the bad debt rate based on her experience. DaysLate - EOM Due Date - 2/10, net 30 DaysLate - 2/10,n/30 Day of Week 1 Customer 2 Steffen, Malinda 3 Zook, Corrinne 4 Mccain, Elba 5 Baca, Tressa 6 Pennell, Willena 7 Mathias, Debrah 8 Whited, Un 9 Mclean, Eldora 10 Silverman, Delmar 11 Thigpen, Mia Invoice AmountInvoiceDate Due Date - EOM $3,282.00 10/1/2013 $1,718.00 10/4/2013 $6,448.00 10/5/2013 $175.00 10/6/2013 $1,440.00 10/6/2013 $1,416.00 10/10/2013 $4,797.00 10/10/2013 $1,929.00 10/14/2013 $2,237.00 10/15/2013 $5,517.00 10/17/2013 Midler Corporation operates in an industry that has a high rate of bad debts and uses the allowance method to account for its bad debt expenses. Before any year-adjustment on 7/1/2014, Midler's accountant compiled a list of overdue account receivables, showing customer names, invoices amounts, and invoice dates. Also, Midler's accountant subjectively estimated the bad debt rate based on her experienceStep by Step Solution
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