NO ACC 213 Assignment: Lab #6 for Chapter 7 Name Instructions: Fill in the yellow cells, using formulas/cell references wherever possible The terms are net 30 days. Balance of A/R on 12/31/2021 #### debit Balance of Allowance for Doubtful Accounts on 12/31/2021 BEFORE adjusting the books $2,000 credit A) Net Realizable Value of Accounts Receivable BEFORhadjusting the books 3 subsidiary ledger A. Abel F. Fierman dr or balance dr CT balance 1 12/14/2 purchase 8450 84507 10/5/21 purchase 1360 1360 2 12/27/21 paid 3750 4700 11/20/21 purchase 875 2235 13 12/20/21 purchase 1940 4175 4 B. Barber 5 dr cr balance G. Gaylord 26 11/15721 purchase 6250 6250 dr cr balance 17 1275722 purchase 1575 7825 1839722/21 purchase 1250 3250 18 SERV2220 purchase 49751 6225 19 Cu Curran 20 dr Icr balance 2 12/2/21 purchase 5400 15400 H. Harris 22 dr cr balance 23 D. Dapper H12729121 purchase 4925 19251 24 dr balance 25. LES 10/21 purchase 3250 3250 I. Ireland 26 dr balance 27. E. Elmore 15/20 purchase 1100 1100 28 ar cr balance 1972/21 purchase 4425 5525 11/22721 purchase 17225 7225 J. Jones 12/3720 purchase 1875 9100 dr or w balance 11101 purchase 1590 1590 2823 purchase 12700 4290 CE CE 34 TGH Company 35 Accounts Receivable Aging Schedule 36 12/31/21 37 Number of Days Past Due 38 Oustomer Total Balance Current 100 3116 61-90 39 Over 90 40 A Abel $ 4.700 41 B. Barber 7,825 + 42 Curran 5.400 43 D. Dapper 3,250 44. Elmore 9,100 45 F. Firma 4,175 46 G. Gaylord 6,225 47 H. Harris 4.925 101. Ireland 5.525 49. Jones 4,200 50 Total Accts. Receivable 35561 51 Make sure that the total of the receivables 52 on your aging schedule is equal to the total Accounts Receivable! 5 54 Calculate the balance Required in the Allowance for boutiful Accounts S5 LGH uses the Aging of Receivables Method 52 Number of Days Past Due Wiely Required AR Amount Uncollectible Allowance Balce 50 1% 59 1-30 3M 50 31-60 8% Targeted balloor 61 61-90 20% the Allowance 62 Over 90 act SON 63 Account Cleo c) Adjusting Entry 66 62 the required ting entry 60 Mercompleting Partner Wences for the bad credit 70 D) After recording the adjusting entry, determine the following using calculations in Excel Balance of NR on 12/31/2023 bore adjusting the books Halance of Allowance for Doubtful Accounts on 12/31/2021 AITER adjusting the books Netewable Value of Accounts Receivable AFTER adjusting the books ADOM Debtor Cred! Use drop-down menu twear when you click on 80 Ey Write-off entry: D. Dapper will not be able to pay the overdue amount owed. Write off the D. Dapper receivable. 63 82 Account Theo Debt Credit 83 Prepare the required you try to 84 wt the D. Dr Account Receivable 85 /cellerne for debit and credit 06 82 80 09 90 F) After recording the adjusting entry, determine the following using calculations in Excel 01 Balance of NR. Immediately after the write-off of D. Dapper's Account Receivable Amount Debitor Credit? 92 Balance of Allowance for Doubtful Accounts mediately after the write-off D. dapper's AA Use drop-down menu 93 Net Rekrable Value of Accounts Receivable AFTER adjusting the books that will appear when you click on cell 94 95 96 92 NO ACC 213 Assignment: Lab #6 for Chapter 7 Name Instructions: Fill in the yellow cells, using formulas/cell references wherever possible The terms are net 30 days. Balance of A/R on 12/31/2021 #### debit Balance of Allowance for Doubtful Accounts on 12/31/2021 BEFORE adjusting the books $2,000 credit A) Net Realizable Value of Accounts Receivable BEFORhadjusting the books 3 subsidiary ledger A. Abel F. Fierman dr or balance dr CT balance 1 12/14/2 purchase 8450 84507 10/5/21 purchase 1360 1360 2 12/27/21 paid 3750 4700 11/20/21 purchase 875 2235 13 12/20/21 purchase 1940 4175 4 B. Barber 5 dr cr balance G. Gaylord 26 11/15721 purchase 6250 6250 dr cr balance 17 1275722 purchase 1575 7825 1839722/21 purchase 1250 3250 18 SERV2220 purchase 49751 6225 19 Cu Curran 20 dr Icr balance 2 12/2/21 purchase 5400 15400 H. Harris 22 dr cr balance 23 D. Dapper H12729121 purchase 4925 19251 24 dr balance 25. LES 10/21 purchase 3250 3250 I. Ireland 26 dr balance 27. E. Elmore 15/20 purchase 1100 1100 28 ar cr balance 1972/21 purchase 4425 5525 11/22721 purchase 17225 7225 J. Jones 12/3720 purchase 1875 9100 dr or w balance 11101 purchase 1590 1590 2823 purchase 12700 4290 CE CE 34 TGH Company 35 Accounts Receivable Aging Schedule 36 12/31/21 37 Number of Days Past Due 38 Oustomer Total Balance Current 100 3116 61-90 39 Over 90 40 A Abel $ 4.700 41 B. Barber 7,825 + 42 Curran 5.400 43 D. Dapper 3,250 44. Elmore 9,100 45 F. Firma 4,175 46 G. Gaylord 6,225 47 H. Harris 4.925 101. Ireland 5.525 49. Jones 4,200 50 Total Accts. Receivable 35561 51 Make sure that the total of the receivables 52 on your aging schedule is equal to the total Accounts Receivable! 5 54 Calculate the balance Required in the Allowance for boutiful Accounts S5 LGH uses the Aging of Receivables Method 52 Number of Days Past Due Wiely Required AR Amount Uncollectible Allowance Balce 50 1% 59 1-30 3M 50 31-60 8% Targeted balloor 61 61-90 20% the Allowance 62 Over 90 act SON 63 Account Cleo c) Adjusting Entry 66 62 the required ting entry 60 Mercompleting Partner Wences for the bad credit 70 D) After recording the adjusting entry, determine the following using calculations in Excel Balance of NR on 12/31/2023 bore adjusting the books Halance of Allowance for Doubtful Accounts on 12/31/2021 AITER adjusting the books Netewable Value of Accounts Receivable AFTER adjusting the books ADOM Debtor Cred! Use drop-down menu twear when you click on 80 Ey Write-off entry: D. Dapper will not be able to pay the overdue amount owed. Write off the D. Dapper receivable. 63 82 Account Theo Debt Credit 83 Prepare the required you try to 84 wt the D. Dr Account Receivable 85 /cellerne for debit and credit 06 82 80 09 90 F) After recording the adjusting entry, determine the following using calculations in Excel 01 Balance of NR. Immediately after the write-off of D. Dapper's Account Receivable Amount Debitor Credit? 92 Balance of Allowance for Doubtful Accounts mediately after the write-off D. dapper's AA Use drop-down menu 93 Net Rekrable Value of Accounts Receivable AFTER adjusting the books that will appear when you click on cell 94 95 96 92