please post answers with Formulas

Xercise Cycles Company has provided its year-end Enter your search term les 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. In the Excel Simulation below.1-88* is entered in a blank cell, the formula outputs the result from cell B8, which is $2.500 in this example Basic Moth functions: 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), fasterisk sign to multiply), and/ (forward slash to divide). In the Excel Simulation below. If "-311+B12" is entered in a blank cell , the formula adds the values from those cells and outputs the result which is 11,600 in this example. If using the other math symbols, the result is an appropriate answer for the function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function in the Excel Simulation below. I-SUMB11,812.813)" is entered in a blank cell, the formula outputs the result of adding those three separate cells, which is 27,500 in this example Similarly, if --SUM(B11:313) is entered in a blank cell, the formula outputs the same result of adding those cells even though they are expressed as a range in the formula, 50 the result is 27,500 in this example, IF function: Allows you to testa condition and return a specific value if the result is true and a different value if the result is false. The syntax of the IF function is "F(test_condition value. I 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_il_true and value. Ifalse arguments will return any specific result for each option, such as another cell reference, a value, or text. Throughout the entire equation of text is being used in the test.condition, value true or value false 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. In the Excel Simulation below, if in a blank cell IF(815,20000,"AR is high" "AR is low") was entered the formula outputs the result of the value true since the rest condition result is true, so in this case the result is the text "AR is high" Excel processes the IF function by separating it out into parts. First is the fest.condition-Excel thinks ind cell B15 and determine if the value is greater than 20000 Once Excel determines if the AND function: Allows you to check if multiple conditions result as TRUE The syntax of the AND function is --AND(logicaltlogical2 )" where logical and logical2 are the conditions being tested. These conditions can be used to evaluate other cells, such as greater than less than or equal to. In the Excel Simulation below if in a blank cell"- AND(B8-100069_1000) is entered the formula outputs the word TRUE since both of the logical test conditions are true. Since the result is either TRUE O FALSE, the function is frequently used as the test_condition argument of an IF function For example, if IF(AND(88-1000,89-1000), "LOW AR accounts "High AR accounts") is entered in a blank cell, the formula outputs the result "Low AR accounts. The IF function evaluates whether the entire AND function provides a TRUE result, and then outputs the value_1_true. If the AND function provides a FALSE result, the IF function outputs the result for value_ /_false When using multiple functions (called nesting functions), it is very important that the opening and closing parentheses are used properly and the placement is appropriate between the commas. For the example above, the AND function requires one set of parentheses and the IF 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 "-DAYS(end date 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 properly calculate the formula result 1 Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. 2 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 5 Number of Days Unpaid 197 $ 6 7 Customer 8 Fitness Mania 9 Health for Life 10 Holistic Health Options 11 Image Reimaging 12 Today's Gym World 13 Whole Life Fitness Center 14 Workouts Unlimited Amount 2,500 2,000 12,750 7,000 4,600 15,900 3,800 48,550 Invoice Date Today's Date 6/17/2016 12/31/2016 12/21/2016 12/31/2016 10/12/2016 12/31/2016 12/5/2016 12/31/2016 11/29/2016 12/31/2016 11/20/2016 12/31/2016 10/2/2016 12/31/2016 15 Total 16 Total amount belongs. 19 The IF statement may include the following argument Enter your search term ND FUNCTION (fx). 20 21 Number of Days Unpaid 22 Customer 0-30 31-60 61-90 Over 90 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 %) 2% 10% 20% 40% 32 Estimated Uncollectible (5) Total amount belongs. 19 The IF statement may include the following argument Enter your search term ND FUNCTION (fx). 20 21 Number of Days Unpaid 22 Customer 0-30 31-60 61-90 Over 90 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 %) 2% 10% 40% 32 Estimated Uncollectible (5) 33 20% 34 3) Prepare the adjusting journal entry for recording uncollectible accounts expense if the Allowance for Doubtful 35 Accounts had the following unadjusted balance: Enter your search term 36 Allowance for Doubtful Accounts $250 37 38 Uncollectible accounts expense 39 Allowance for Doubtful Accounts 40 41 4) Prepare the adjusting journal entry for recording uncollectible accounts expense if the Allowance for Doubtful 42 Accounts had the following unadjusted balance: 43 Allowance for Doubtful Accounts $100 debit balance 44 45 Uncollectible accounts expense 46 Allowance for Doubtful Accounts 47 48 49