please use formulas for questions 2-4

Xercise Cycles Company has provided its year ended accounts receivables that were uncollected. The Controler 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 was entered the formula would output the result from cell 88, or $2,500 in this example, Basic Math 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)." (asterisk sign to multiply, and/(forward slash to divide). From the Excel Simulation below.in a blank cell"-311+B12" was entered the formula would add the values from those cells and output the result or 11600 in this example, 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 adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell SUM(B1812 813) was entered the formula would output the result of adding those three separate cells, or 27500 in this example Similarly, it in a blank cell -SUMB1:B131" was entered the formule woulut output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 27500 in this example IF function: Allows you to test a condition and return a specific value is the result is true and different value of the result is false. The syntax of the IF function is Flest.condition valve...true values and specific considerations need to be made when using this function The rest condition argument is an evaluation of the status of a coll, such as if the value of a cell is greater than toss than or equal to another number or cell The value...true and value. Cras arguments will return any specific result for each option, such as another chi reference, value, or text Throughout the entire equation of text is being used in the rest.condition value or web Anse arguments the the text itself should be entered in quotations so that Excel will recognize the textos a string of text instead of another function. From the Excel Simulation below, if in a blank cell"F(81520000,"AR I high" AR Islow) was entered the formula would output the result of the Valueue 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 test.condition - Excel thinks, find cw 15 and determine if the values greater than 20000 Once Excel determines if the result of that test condition is TRUE OR FALSE, it will return the value true or value_false AND function: Allows you to check if multiple conditions result os TRUE The syntax of the AND function is Alogicalllogical where logical and logical are the conditions being tested. These conditions can be used to evaluate other cells, such as greater the less thian, equal to From the Excel Simulation below, if in a blank cell AND(88-1000,89-1000) was entered the formule would output the word TRUE since both of the logical test conditions are true. Since the result will provide with a TRUE FALSE result, the function is frequently used as the teste condition argument of an IF function. For example, if in a blank cell FANDOR-1000, 19-100011o AR accounts High AR accounts was entered, the formula would output the result of "Low AR accounts The IF function evaluates if the entie AND function provides a TRUE result, and as such outputs the value to the AND function does not result as TRUE, the D 1 E 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 6 Number of 7 Customer Amount Invoice Date Today's Date Days Unpaid 8 Fitness Mania 2,500 6/17/2016 12/31/2016 197 9 Health for Life 2,000 12/21/2016 12/31/2016 101 10 Holistic Health Options 12,750 10/12/2016 12/31/2016 80 11 Image Reimaging 7,000 12/5/2016 12/31/2016 26 12 Today's Gym World 4,600 11/29/2016 12/31/2016 32 13 Whole Life Fitness Center 15,900 11/20/2016 12/31/2016 41 14 Workouts Unlimited 3,800 10/2/2016 12/31/2016 90 15 Total 48,550 16 17 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 18 Create a formula for each age category, using the Excel IF and AND FUNCTIONS (fx) to determine where each customer amount belongs. 19 The IF statement may include the following arguments: >- >,