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cel Assignment Xercise Cycles Company has provided its year ended accounts receivables that were uncollected. The Controller has asked you to help prepare the Aging of Accounts Receivable Schedule and the corresponding journal entries. Use the information included in the Excel Simulation and the Excel functions described below to complete the task Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below. If in a blank cel.38 was entered the formula would output the results from cell BB, or $2.500 in this example. Besk Math function Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys plus sign to add-minus sign to subtract. asterisk sign to multiply, and/orward slash to dividel. From the Excel Simulation below, if in a blank cell B11 B12" was entered the formula would add the values from those cells and output the result, or 11,600 in this example, If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and acts all the values. You can add individual cell references or ranges to utilize this function From the Excel Simulation below. If in a blank celSUMB1,B12,B13" was entered, the formula would output the result of adding those three separate cells, or 27500 in this example. Similarly, Irina blank cell SUMB11 B131 was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula and the result would be 27,500 in this example Function: Allows you to test a condition and return a specific value is the result is true and different value if the result is false. The syntax of the IF function is rest_condition valve it true.value false and specific considerations need to be made when using this function. The test condition argument is an evaluation of the status of a cell, such as if the value of a cell is greater than less than or equal to another number or cell. The value it true and value it false arguments will return arty specific result for each option, such as another cell reference, a value, or text. Throughout the entire equation, if text is being used in the test_condition, value it true, or value Ilavise arguments then the text itself should be entered in quotations so that Excel will recognize the text as a "string of text instead of another function. From the Excel Simulation below. it in a blank cell IF 31520000."AR is high","AR is low was entered the formula would output the result of the value_i_brue since the test condition would be result as true, or in this case the text "AR is high Excel processes the IF function by separating it out into separate parts. First the rest condition - Excel thinks, find cel B15 and determine the value is greater than 20000 Once Excel determines if the result of that test condition is TRUE OR FALSE, will return the value true or value_it false AND function Allows you to check if multiple conditions result as TRUE The syntax of the AND function is -ANDYogical, logical where logical and logical are the conditionis being tested. These conditions can be used to evaluate other cells, such as greater than, less than equal to From the Excel Simulation below. If in a blank cel HAND(B8>1000,B9>1000) was entered the formula would output the word TRUE since both of the logical test conditions are true. Since the result will provide with a TRUE OR FALSE result, the function is frequently used as the test_condition argument of an IF function. For example, if in a blank cell FAND881000 89.10001 Low AR accounts "High AR accounts was entered the formu would output the result of "Low AR accounts" The function evaluates if the entire AND function provides TRUE result, and as such outputs the value true if the AND function does not result os TRUE. the IF function would output the result for value s e When using multiple function called nesting function is very important that the opening and closing parentheses are used properly and the placement appropriate between the commas. For the example above, the AND function requires one set of parentheses and the function requires another set of parentheses DAYS function: Allows you to calculate the number of days between two dates. The syntax of the DAYS function is DAYSend dare,start date and should always return a positive value. It is important that the end date is used for the furthest date into the future and the start date is used for the date furthest into the past or earliest date in time being evaluated. The formula arguments should reference dates that are located in other cells to property calculate the formula result el Assignment Saved Paste B I V - Editina A - Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells - Clipboard Font A1 1 x Xercise Cycles Company sells exercise equipment to gyms on account. At yea A CDEF Lercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable vere uncollected tequired: Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). Number of Days Unpaid S Customer itness Mania 9 tealth for Life 10 olistic Health Options 11 mage Reimaging 12 oday's Gym World 13 Vhole Life Fitness Center 14 Vorkouts Unlimited 15 otal Amount 2,500 2,000 12,750 7,000 4,600 15,900 3,800 48,550 I nvoice Date 6/17/2016 12/21/2015 10/12/2016 12/5/2016 11/29/2016 11/20/2015 1 0/2/2016 Today's Date 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 $ 17 Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (fx) to determine where each customer mount belongs. 19 helf statement may include the following arguments: >, > Excel AND FUNCTION (fx) Number of Days Unpaid 3 1- 60 6 1-90 0- 30 Over 90 Total Customer 23 Fitness Mania 24 Health for Life 25 Holistic Health Options 26 Image Reimaging 27 Today's Gym World 28 Whole Life Fitness Center 29 Workouts Unlimited 30 Total Accounts Receivable 31 Estimated Uncollectible%) 32 Estimated Uncollectible (5) 241 10451 209 49 34 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 35 had the following unadjusted balance Allowance for Doubtful Accounts s2solcredit balance 38 Bad Debt Expense Patora Sheet1 4 nunta Attempts)