Question 2: Accounts Receivable Management has provided a detailed aging schedule of accounts receivable below. Required: Please see the requirements below the accounts receivable listing.

Question 2: Accounts Receivable

Management has provided a detailed aging schedule of accounts receivable below.


Required: Please see the requirements below the accounts receivable listing.

image text in transcribed

31-60 Days 61-90 Days 91-120 days > 120 days $ $ 3,345.69 $ 980.91 $ 1,961.83 $ 980.91 14,801.76 2,153.50 11,071.10 10.124.40 2,325.00 6,330.74 4,217.98 4,217.98 6,091.98 11,466.53 5,794.86 5,250.00 Customer name Region Dr. Roger Goyette North Dr. Camila Schuppe North Dr. Juanita Zboncak YEG Dr. Terence Smitham YYC Dr. Carmella Lebsack YYC Dr. Michaela Zulauf South Dr. Hillary Schuppe South Dr. Isabella Stokes South Dr. Camylle Wuckert South Dr. Molly Straoke South Dr. Stacy Kuhlman Sr. YEG Dr. Aubree Hermiston North Dr. Judy Ziemann North Dr. Charley Wilderman South Dr. Cletus Bashirian YYC Dr. Tyree Gorczany South Dr. Dianna Mohr South Dr. Mackenzie Koch Central Dr. Winona Doyle North Dr. Bennett Beer IV North Dr. Bennie Romaguera North Dr. Deja Daniel Central Dr. Elvera Fisher Sr. North Dr. Noemie Prohaska Central Dr. Emely Aufderhar North Dr. Fredrick Doyle YEG Dr. Kira Hammes YYC Dr. Maud Mayer North Dr. Bell Grimes YEG Dr. Bradly Monahan South Dr. Roscoe Daugherty South Dr. Haylee Mitchell South Dr. Carrie Schiller YYC Dr. Bertha Mayert YYC Dr. Alba Barton YEG Dr. Misty Ankunding South Dr. Elaina Monahan YYC Dr. Sylvan Runolfsson South Dr. Jonas Spinka South Dr. Delphia Schultz South Dr. Telly Pfeffer South Dr. Lamar Mayer YEG Dr. Eve Dicki Central Dr. Florence Balistreri Central Dr. Alana Feeney YEG Dr. Cheyenne Steuber North Dr. Edison Bergstrom North Dr. Herta Anderson Central Dr. Maci Weissnat Central Dr. Godfrey Lemke South Dr. Karley Adams Central Dr. Meagan Deckow YYC Dr. Earlene Considine Central Dr. Alec Altenwerth YYC Dr. Bret Nolan V North Dr. Talia Satterfield Central Dr. Caden Stokes North Dr. Kylee Tillman North Dr. Braeden Nikolaus North Total 0-30 Days 15,344.31 $ 15,344.31 11,709.93 8,364.23 16,436.00 16,436.00 3,709.61 3,709.61 3,923.65 14,801.76 17,228.01 15,074.51 15,974.03 15,974.03 21,818.59 21,818.59 11,071.10 16,704.49 16,704.49 17,627.90 17,627.90 16,199.04 6,074.64 13,415.10 13,415.10 11,842.78 9,517.78 7,643.35 7,643.35 6,330.74 21,089.88 12,653.93 8,643.42 8,643.42 5,581.34 5,581.34 17,150.22 17.150.22 6,091.98 19,708.84 19,708.84 7,766.12 7,766.12 15,288.71 3,822.18 11,044.86 4,046.06 4,046.06 17,654.52 17,654.52 4,058.06 13,583.60 10,866.88 17,881.52 2,131.52 20,867.20 20.867.20 18,681.96 8,408.29 8,408.29 2,394.52 2,394.52 20,989.64 20,989.64 19,379.98 19,379.98 19,392.01 13,040.80 13,040.80 15,430.11 3,294.98 1,955.02 8,542.79 8,542.79 15,820.97 13,426.95 13,426.95 20,731. 18 20,731.18 17.434.41 17,434.41 19,116.33 19,116.33 10,870.55 15,104.96 15,104.96 14,307.48 2,415.33 2,415.33 18,626.44 18,626.44 11,014.52 30,784.91 9,784.91 33,623.19 16,823.19 9,114.43 20,694.77 2,344.62 2,344.62 2,468.61 2,468.61 4,058.06 2,716.72 15,750.00 18,681.96 19,392.01 15,430.11 5,250.00 15,820.97 10,870.55 11,445.98 2,861.50 11,014.52 21,000.00 16,800.00 9,114.43 20,694.77 2,131.52 20,867.20 15,750.00 18,681.96 8,408.29 2,394,52 20,989.64 19,379.98 19,392.01 13.040.80 15,430.11 5,250.00 1,955.02 8,542.79 15,820.97 Dr. Roscoe Daugherty South Dr. Haylee Mitchell South Dr. Carrie Schiller YYC Dr. Bertha Mayert YYC Dr. Alba Barton YEG Dr. Misty Ankunding South Dr. Elaina Monahan YYC Dr. Sylvan Runolfsson South Dr. Jonas Spinka South Dr. Delphia Schultz South Dr. Telly Pfeffer South Dr. Lamar Mayer YEG Dr. Eve Dioki Central Dr. Florence Balistreri Central Dr. Alana Feeney YEG Dr. Cheyenne Steuber North Dr. Edison Bergstrom North Dr. Herta Anderson Central Dr. Maci Weissnat Central Dr. Godfrey Lemke South Dr. Karley Adams Central Dr. Meagan Deckow YYC Dr. Earlene Considine Central Dr. Alec Altenwerth YYC Dr. Bret Nolan V North Dr. Talia Satterfield Central Dr. Caden Stokes North Dr. Kylee Tillman North Dr. Braeden Nikolaus North Dr. Toney Ullrich YEG 17,881.52 20,867.20 18,681.96 8,408.29 2,394.52 20,989.64 19,379.98 19,392.01 13,040.80 15,430,11 3,294.98 8,542.79 15,820.97 13,426.95 20,731.18 17,434.41 19.116.33 10,870.55 15, 104.96 14,307.48 2,415.33 18,626.44 11,014.52 30,784.91 33,623.19 9,114.43 20,694.77 2,344.62 2,468.61 12,577.89 13,426.95 20,731.18 17,434.41 19,116.33 10,870.55 15,104.96 11,445.98 2,861.50 2,415.33 18,626.44 11,014.52 21,000.00 9,784.91 16,823.19 16.800.00 9,114.43 20,694.77 2,344.62 2,468.61 12,577.89 Total $ 812,269.30 $ 507,674.68 $ 139,709.33 $ 80,696.90 32,711.40 $ 51,476.99 1. Prior to estimating the amount uncollectible, it is determined that Dr. Carrie Schiller's and Dr. Alec Altenverth's accounts that originated in 2019. are judged uncollectible. Prepare the journal entry. Date Account Titles Debit Credit 2. Management estimates that 3% of their credit sales will be uncollectible. Prepare the adjusting journal entry to record bad debt expense on December 31st. Date Account Titles Debit Credit 3. Determine the total estimated amount uncollectible (ending AFDA). Allowance for Doutbful Accounts 6,000 4. Critical Thinking: How would the journal entries you've just created affect the accounts receivable turnover and average collection period that you calculated in Question 2? 5. Create a bar or column chart that shows accounts receivable by its age (number of days old). What can you surmise from the chart you created? 31-60 Days 61-90 Days 91-120 days > 120 days $ $ 3,345.69 $ 980.91 $ 1,961.83 $ 980.91 14,801.76 2,153.50 11,071.10 10.124.40 2,325.00 6,330.74 4,217.98 4,217.98 6,091.98 11,466.53 5,794.86 5,250.00 Customer name Region Dr. Roger Goyette North Dr. Camila Schuppe North Dr. Juanita Zboncak YEG Dr. Terence Smitham YYC Dr. Carmella Lebsack YYC Dr. Michaela Zulauf South Dr. Hillary Schuppe South Dr. Isabella Stokes South Dr. Camylle Wuckert South Dr. Molly Straoke South Dr. Stacy Kuhlman Sr. YEG Dr. Aubree Hermiston North Dr. Judy Ziemann North Dr. Charley Wilderman South Dr. Cletus Bashirian YYC Dr. Tyree Gorczany South Dr. Dianna Mohr South Dr. Mackenzie Koch Central Dr. Winona Doyle North Dr. Bennett Beer IV North Dr. Bennie Romaguera North Dr. Deja Daniel Central Dr. Elvera Fisher Sr. North Dr. Noemie Prohaska Central Dr. Emely Aufderhar North Dr. Fredrick Doyle YEG Dr. Kira Hammes YYC Dr. Maud Mayer North Dr. Bell Grimes YEG Dr. Bradly Monahan South Dr. Roscoe Daugherty South Dr. Haylee Mitchell South Dr. Carrie Schiller YYC Dr. Bertha Mayert YYC Dr. Alba Barton YEG Dr. Misty Ankunding South Dr. Elaina Monahan YYC Dr. Sylvan Runolfsson South Dr. Jonas Spinka South Dr. Delphia Schultz South Dr. Telly Pfeffer South Dr. Lamar Mayer YEG Dr. Eve Dicki Central Dr. Florence Balistreri Central Dr. Alana Feeney YEG Dr. Cheyenne Steuber North Dr. Edison Bergstrom North Dr. Herta Anderson Central Dr. Maci Weissnat Central Dr. Godfrey Lemke South Dr. Karley Adams Central Dr. Meagan Deckow YYC Dr. Earlene Considine Central Dr. Alec Altenwerth YYC Dr. Bret Nolan V North Dr. Talia Satterfield Central Dr. Caden Stokes North Dr. Kylee Tillman North Dr. Braeden Nikolaus North Total 0-30 Days 15,344.31 $ 15,344.31 11,709.93 8,364.23 16,436.00 16,436.00 3,709.61 3,709.61 3,923.65 14,801.76 17,228.01 15,074.51 15,974.03 15,974.03 21,818.59 21,818.59 11,071.10 16,704.49 16,704.49 17,627.90 17,627.90 16,199.04 6,074.64 13,415.10 13,415.10 11,842.78 9,517.78 7,643.35 7,643.35 6,330.74 21,089.88 12,653.93 8,643.42 8,643.42 5,581.34 5,581.34 17,150.22 17.150.22 6,091.98 19,708.84 19,708.84 7,766.12 7,766.12 15,288.71 3,822.18 11,044.86 4,046.06 4,046.06 17,654.52 17,654.52 4,058.06 13,583.60 10,866.88 17,881.52 2,131.52 20,867.20 20.867.20 18,681.96 8,408.29 8,408.29 2,394.52 2,394.52 20,989.64 20,989.64 19,379.98 19,379.98 19,392.01 13,040.80 13,040.80 15,430.11 3,294.98 1,955.02 8,542.79 8,542.79 15,820.97 13,426.95 13,426.95 20,731. 18 20,731.18 17.434.41 17,434.41 19,116.33 19,116.33 10,870.55 15,104.96 15,104.96 14,307.48 2,415.33 2,415.33 18,626.44 18,626.44 11,014.52 30,784.91 9,784.91 33,623.19 16,823.19 9,114.43 20,694.77 2,344.62 2,344.62 2,468.61 2,468.61 4,058.06 2,716.72 15,750.00 18,681.96 19,392.01 15,430.11 5,250.00 15,820.97 10,870.55 11,445.98 2,861.50 11,014.52 21,000.00 16,800.00 9,114.43 20,694.77 2,131.52 20,867.20 15,750.00 18,681.96 8,408.29 2,394,52 20,989.64 19,379.98 19,392.01 13.040.80 15,430.11 5,250.00 1,955.02 8,542.79 15,820.97 Dr. Roscoe Daugherty South Dr. Haylee Mitchell South Dr. Carrie Schiller YYC Dr. Bertha Mayert YYC Dr. Alba Barton YEG Dr. Misty Ankunding South Dr. Elaina Monahan YYC Dr. Sylvan Runolfsson South Dr. Jonas Spinka South Dr. Delphia Schultz South Dr. Telly Pfeffer South Dr. Lamar Mayer YEG Dr. Eve Dioki Central Dr. Florence Balistreri Central Dr. Alana Feeney YEG Dr. Cheyenne Steuber North Dr. Edison Bergstrom North Dr. Herta Anderson Central Dr. Maci Weissnat Central Dr. Godfrey Lemke South Dr. Karley Adams Central Dr. Meagan Deckow YYC Dr. Earlene Considine Central Dr. Alec Altenwerth YYC Dr. Bret Nolan V North Dr. Talia Satterfield Central Dr. Caden Stokes North Dr. Kylee Tillman North Dr. Braeden Nikolaus North Dr. Toney Ullrich YEG 17,881.52 20,867.20 18,681.96 8,408.29 2,394.52 20,989.64 19,379.98 19,392.01 13,040.80 15,430,11 3,294.98 8,542.79 15,820.97 13,426.95 20,731.18 17,434.41 19.116.33 10,870.55 15, 104.96 14,307.48 2,415.33 18,626.44 11,014.52 30,784.91 33,623.19 9,114.43 20,694.77 2,344.62 2,468.61 12,577.89 13,426.95 20,731.18 17,434.41 19,116.33 10,870.55 15,104.96 11,445.98 2,861.50 2,415.33 18,626.44 11,014.52 21,000.00 9,784.91 16,823.19 16.800.00 9,114.43 20,694.77 2,344.62 2,468.61 12,577.89 Total $ 812,269.30 $ 507,674.68 $ 139,709.33 $ 80,696.90 32,711.40 $ 51,476.99 1. Prior to estimating the amount uncollectible, it is determined that Dr. Carrie Schiller's and Dr. Alec Altenverth's accounts that originated in 2019. are judged uncollectible. Prepare the journal entry. Date Account Titles Debit Credit 2. Management estimates that 3% of their credit sales will be uncollectible. Prepare the adjusting journal entry to record bad debt expense on December 31st. Date Account Titles Debit Credit 3. Determine the total estimated amount uncollectible (ending AFDA). Allowance for Doutbful Accounts 6,000 4. Critical Thinking: How would the journal entries you've just created affect the accounts receivable turnover and average collection period that you calculated in Question 2? 5. Create a bar or column chart that shows accounts receivable by its age (number of days old). What can you surmise from the chart you created