Question
Wholesale fruits enr. Estimate the depreciation of its customer accounts by classifying them in chronological order. As of December 31, 20x4 you get the following
Wholesale fruits enr. Estimate the depreciation of its customer accounts by classifying them in chronological order. As of December 31, 20x4 you get the following information, taken from the customer auxiliary ledger:
Customer Date of invoice amount Bananarama enr. July 15 20x4, 750 $ September 2 20x4, 375 25 November 20x4, 200 Fruiterie pepin de apple enr. August 30 20x4, 475 Kiwi ltee August 19 20x4, 300 Le petit fruitier inc. October 5 20x4, 565 November 9 20x4, 490 December 6 20x4, 810 La Citronnier enr. June 18 20x4, 150 Le orger du center-ville enr. September 15 20x3, 300 Other current accounts from December 3 to 31 20x4, 18,500
In view of the above information: a) Establish the chronological classification of accounts receivable b) Calculate the estimated amount of depreciation of accounts receivable according to the following percentages: Current accounts 0.5% Overdue accounts Less than 30 days, 2.0 From 30 to 60 days, 5.0 From 61 to 90 days, 10.0 From 91 to 120 days, 30.0 From 121 to 180 days, 50.0 More than 180 days, 80.0
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