SU 1. Prepare an aging of accounts receivable and compute bad debt expense. QB 5 FILE HOME Aging of accounts receivable method - Excel PAGE LAYOUT FORMULAS DATA REVIEW INSERT 6 x X VIEW Calibri - 11 A %6 Paste B TV- Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Cells Font ES 1 A B D F Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected 2 3 Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (Ex). S 6 Number of 7 Customer Amount Invoice Date Today's Date Days Unpaid 8 Fitness Mania 2.500 6/17/2016 12/31/2016+ 9 Health for Life 2,000 12/21/2016 12/31/2016 10 Holistic Health Options 12,750 10/12/2016 12/31/2016 11 Image Reimaging 7.000 12/5/2016 12/31/2016 12 Today's Gym World 4,600 11/29/2016 12/31/2016 13 Whole Life Fitness Center 15,900 11/20/2016 12/31/2016 14 Workouts Unlimited 3.800 10/2/2016 12/31/2016 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 (Ex) to determine where each customer amount belongs. 19 The IF statement may include the following arguments >>scu, Excel AND FUNCTION (EX) 20 21 Number of Days Umpald 22 Customer 0.30 31-60 61-30 OSO Sheet1 READY Attempts) 3/3 1. Prepare an aging of accounts receivable and compute bad debt expense. H5 - Aging of accounts receivable method - Excel PAGE LAYOUT FORMULAS DATA REVIEW FILE HOME INSERT VIEW Sign In * Calibri - 11 % Paste BIU- Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font ES B D E F 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 (Ex) to determine where each customer amount belongs. 19 The IF statement may include the following arguments: <.>.>, C, Excel AND FUNCTION (fx). 20 21 Number of Days Unpaid 22 Customer 0-30 31-60 61-90 Over 90 Total 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(%) 296 10% 2046 4096 32 Estimated Uncollectible ($) 33 34 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 35 had the following unadjusted balance: 36 Allowance for Doubtful Accounts $250 credit balance 37 36 Bad Debt Expense 19 Allow for the Account Sheeti READY Attempt TOON Hint 1. Prepare an aging of accounts receivable and compute bad debt expense. Aging of accounts receivable method - Excel FILE HOME ? - INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW X Calibri - 11 A A % Paste BIU- A. Cells Clipboard Alignment Number Conditional Format as Cell Formatting Table Styles Styles Font ES B F A D 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( %) 25 10% 20% 40% 32 Estimated Uncollectible (8) 33 34 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 35 had the following unadjusted balance: 36 Allowance for Doubtful Accounts $250 credit balance 37 38 Bad Debt Expense 39 Allowance for Doubtful Accounts 41 4) Prepare the adjusting journal entry for recording bad debt expense in the Allowance for Doubtful Accounts 42 had the following unadjusted balance: 43 Allowance for Doubtful Accounts $100 dehit balance 45 Bad Debt Expense 46 Allowance for Doubtful Accounts 40 44 Sheet1 READY Altenpito) 3/3 Pent
