REQUIRED:

Adjusting Entries on December 31, 2015 with the following column headings.

A. B. REYES of As part of the program of verification, y reviewed the accounts with All Ryes credit manager. The credit manager opined that all the accounts are collectible except the act S.T. Manzano which is doubt of collection. It was decided to make the accounts 10% of the outstanding receivables on December 31, 2015. The con discount on collections following the month of billing. (a) Excerpts from Sales Book: 2 Sales (CR) 7,200.00 15.000.00 39,000.00 37.000.00 Date Nov. S S 6 8 8 14 14 26 Sold to L. M. Adam H . N. Bernardo P. R. Mercado N.W. Topaz EB Garces S. G. Hurado Q. T. Kimura ZA. Padua N.C. Tinio Assis, Re'ble (DR) 7,200.00 35.000.00 39,000.00 37,000.00 29.000.00 48,500.00 86,240.00 13.500.00 25,000.00 300.440.00 500.00 86.240.00 13,500.00 25.000.00 V 410.00 Dec. 5 5 10 10 10 12 15 20 34.500.00 52.550.00 26,000.00 97.400.00 N C. Tinio H. N. Berardo L. M. Adam O. T. Kimur PR Mercado E. B. Garces D. S. Ty Z. A. Padua 34.500.00 52.550.00 26.000 09 97.400.00 14.000.00 31.000.00 7,450.00 334.900.00 72 .00 7.450.00 334.900.00 (b) Excerpts from casa receipts books: Sales Discount DR Date Nov. 3 Received froin L. K. Gentiles Cash DR 10,000.00 7,644.00 17.644,00 Accts Ree'ble CR 10.000.00 7.000.00 17,000.00 156.00 156.00 Dec. 2 S. G. Hurado 2 D.S. Ty 4 N. W. Topaz 8 Z. A. Padua 10 E. B. Garcia 29 C. M. Adam 31 D. S. Ty 31 P. R.Mercado 46,560.00 24,500.00 36,260.00 3.332.00 6,860.00 1,600.00 3,185.00 13,000.00 135.297.00 1.940.00 500.00 740.00 68.00 140.00 - 65.00 48,500.00 25,000.00 37,000.00 3,400.00 7,000.00 1.600.00 3.250.00 13,000.00 138,750.00 3.453.00 (1) General Ledger Account Aast Reciale 1.078.000.00 19.180.00 1600 1.02R 2000 1.493.400.00 Date Oct 31 Balance Nov 29 DM Manolo Uncollectible Now 29 Sales Account Dec 8 Credit memo-S.G Hurado Dec. 9 Credit memo-N.W. Toper Dec. 13 Notes Reeble-DS 11,000.00 1.165.150.00 15,000.00 1.150.150.00 60,000.00 881.810.00 Dec 31 Sales on Account Dec 31 Cash Received 1. 15000 1,972,160.00 900,100.00 1.071,800.00 Allowance for Doubtful Accounts Credit Balance 71,100.00 Oct 31 Balance Nov. 29 D. M. Manolo uncollectible 49. 10.00 22.120.00 The accounts charged to Allowance for Dechtful accounts during the year were investigated and appeared to be collectible. Write-offs of accounts were approved by JF. Santos, credit manager. The accounts to the accounts receivable ledger having balances at December 31, 2015 are shown below. The consignment to V.F. Paraon on December 27 was billed at the cost price. The offsetting credit was to the sales account. None of the consigned merchandise was sold on December 31, 2015 Accounts Receivable Subsidiary Ledgers L. M. Adam Balance Invoice 2015 1 Jul 12 Jul 20-Sep S-Nov 10-Dec 78,000.00 15,000.00 7,800.00 7,200.00 26,000.00 134,000.00 2015 18-Jul 20-Aug 8-Nov 29-Dee Cash Cash Cash Cash 78,000.00 15,000.00 7,800.00 1,600.00 102.400.00 (Bal. P31,600) 2015 120,000.00 6,000.00 126,000.00 30-Aug 15-Sep 1-Oct 10-Nov 5-Dec Balance Invoice Invoice Invoice Invoice Invoice HN Bernardo 2015 120,000.00 10-Jul Cash 12,570.00 29-Sep C ash 19.290.00 23,000.00 15,000.00 52,550.00 242,420.00 (Bal. P 11,420) 2015 28.Jul 20-Aug Invoice Invoice 27 000.00 19.620.00 46.620.00 E. B. Garces 2015 2015 10-Sep C ash 10-Dee Cash 2000.00 Balance voice Invoice Invoice 30-Oct 8-Nov 12-Dec 28.000,00 7,000.00 29,000.00 31.000.00 95.000.00 (Bal. P 60,000) S. G. Hurado 2015 2015 18 Sep Nov Invoice Invoice 37.500.00 48,500.00 86,000.00 1-Oct 2-Dec 8-Dec Cash Cash C/M Return 37.500.00 48.500.00 11,000.00 97,000.00 (BaL P 11.000) U. N. Leonido 2015 40 S-Nov Loan 20.000.00 10,000.00 30.000.00 0. T. Kimura 2015 2015 10-Jul Cash 29-Sep C ash 10-Jul 27-Aug 14-Nov 10-Dec Balance Invoice Invoice Invoice Invoice 120,000.00 6,000.00 126,000.00 412.500.00 102.000,00 18.000.00 86,240.00 97,400.00 716.140.00 (Bal. P 210,640) V. F. Paraon (Consignee) 2015 27-Dec invoice 113,500.00 (at cost price) ZA. Padua 2015 23-Aug 30-Aug 3-Oct 14-Nov 20-Dec Invoice Invoice Invoice Invoice Invoice 10-Sep 3-Oct 8-Dec 13.00 5.000.00 310000 1,840.00 5,000.00 3,000.00 13,500.00 7.450.00 31,190.00 (Bal. P 20,950) N. C. Tinio 2015 6-Aug CMR 3.000.00 2015 20-Sep 26. Nov 3-Dec Invoice Invoice Invoice 9,030.00 25,000.00 34.500.00 68,530.00 (Bal. P 64,530) 2015 29.Sep 26-Nov 10,000.00 Loan Lean Loan L. K. Gentiles (Employee) 2015 19.500.00 3-Now Cash 27,000.00 16,000.00 62,500.00 5-Dec (Bal. P 52,500) D.S. Ty 2015 1.Jul 15-Jul 28-Aug 6-Oct 16-Dec Balance Invoice Invoice Invoice Invoice 69,600.00 30,000.00 43,000.00 12,000.00 72,000.00 226,600.00 2015 9-Aug Cash 2-Dee Cash 13-Dec Note 31-Dec Cash 66,400.00 25.000.00 60,000.00 3.250.00 154,650.00 (Bal P 72,000) N. W. Topaz 2015 31-Jul 28-Aug 6-Nov Invoice Invoice Invoice 20,000.00 17.500.00 37,000.00 74.500.00 2015 4-Oct Cash 4-Dee Cash 9-Dee CM Retur 37,500.00 37,000.00 15,000.00 89,500.00 (Bal. P 15,000) 2015 29-Jul 16-Aug 20-Sep 15.000.00 13,000.00 28,000.00 Invoice Invoice Invoice Invoice Invoice Invoice P. R. Mercado 2015 21,000.00 4-Oct C ash 30,000.00 31-Dee Cash 6,000.00 25,000.00 39,000.00 14.000.00 135,000.00 7-Oct 5-Nov 10-Dec (Bal. P 107.000) i ne accounts were credited from the cash receipts record during the last few days of December for the balance due and which were in balance are not reproduced. In other words, all accounts that were in balance as December 31 are omitted from this list of accounts receivables. Remillance received from customers during the first days of January, following year applicable to December 31, 2015 customers balances are as follows: 63.920.00 Jan. 5, 2016 H. N. Bernardo 27,000.00 Jan. 8, 2016 0. T. Kimura 13,900.00 Jan 5, 2016 Z. A. Padua 54,000.00 Jan 7, 2016 P. R. Mercado The above amounts were raced by you to the cash receipts book as part of year audit procedures. Required: Adjusting entries on December, 31, 2015 and aging schedule with the following column headings: Customer's Name Balance Dr. (Cr.) Current December | November | October Past due September November and earlier October Subsequent Collection August Auguse July and earlier l Subsequent Collection Date Amount L. Remarks Required: Adjusting entries on December, 31, 2015 and aging schedule with the following column headings Customer's Namne Customer's Balance Dr. (Cr.) Belle Current December November October Past due September August July and earlier Date Subsequent Collection Amount - Remarks Renarks