Strut Creations Company, Inc., supplies wigs and hair care products to beauty salons throughout Colorado, Wyoming, Nevada, Idaho, Oregon, Washington, and California. The accounts receivable clerk for Strut Creations Company, Inc., prepared the following partially completed aging of receivables schedule as of the end of business on December 31. 2019:

Customer: (Balance) (Not past Due) (1 to 30) (31 to 60) (61 to 90) (91 to 120) (>than120)

Subtotals:875,000 415,000 210,000 112,000 55,000 18,000 65,000

The following accounts were unintentionally omitted from the aging schedule.Assume all due dates are for the current year except for Visions Hair & Nail, which is due in the next year.

Customer Due Date Balance Age Class Percent Uncollectible

Arcade Beauty 17-Aug-----$10,000

Creative Images 30-Oct-----8,500 Not past due 1%

Excel Hair Products 3-Jul------7,500 1 to 30 past 4%

First Class Hair Care 8-Sep-----6,600 31 to 60 past 16%

Golden Images 23-Nov----3,600 61 to 90 past 25%

Oh that Hair 29-Nov----1,400 91 to 120 past 40%

One Stop Hair Designs 7-Dec-----4,000 > 120 past 80%

Visons Hair & Nail 11-Jan------9,000

1 Determine the appropriate aging column for the above-omitted accounts.

2 Complete the aging by posting the omitted accounts to the proper aging column of the schedule and updating the totals.

3 Estimate the allowance for doubtful accounts, based on the aging of receivables schedule

4 Assume that the allowance for doubtful accounts for Strut Creations Company has a credit balance of $ 7,375 before adjustment on December 31.Journalize the adjustment for uncollectible accounts.

5 Assume that the adjusting entry in [4] was inadvertently omitted, how would the omission affect the balance sheet and income statement?