Wig Creations Company supplies wigs and hair care products to beauty salons throughout Texas and the Southwest. The accounts receivable clerk for Wig Creations prepared the following partially completed aging of receivables schedule as of the end of business on December 31, 20Y1: Days Past Due Customer Balance Not Past Due 1-30 31-60 61-90 91-120 Over 120 Subtotals 829,500 460,400 199,100 91,200 30,700 27,400 20,700 The following accounts were unintentionally omitted from the aging schedule: Customer Due Date Balance Arcade Beauty May 28, 20Y1 $3,200 Creative Images Sept. 7, 20Y1 6,700 Excel Hair Products Oct. 17, 20Y1 900 First Class Hair Care Oct. 24, 20Y1 2,200 Golden Images Nov. 23, 20Y1 700 Oh That Hair Nov. 29, 20Y1 3,900 One Stop Hair Designs Dec. 2, 20Y1 2,500 Visions Hair & Nail Jan. 5, 20Y2 8,200 Wig Creations has a past history of uncollectible accounts by age category, as follows: Age Class Percent Uncollectible Not past due 2 % 1-30 days past due 4 31-60 days past due 12 61-90 days past due 18 91-120 days past due 40 Over 120 days past due 80 Required Question Content Area 1. Determine the number of days past due for each of the preceding accounts. If an account is not past due, enter a zero. Customer Due Date Number of Days Past Due Arcade Beauty May 28, 20Y1 fill in the blank 647141fec064fba_1 days Creative Images Sept. 7, 20Y1 fill in the blank 647141fec064fba_2 days Excel Hair Products Oct. 17, 20Y1 fill in the blank 647141fec064fba_3 days First Class Hair Care Oct. 24, 20Y1 fill in the blank 647141fec064fba_4 days Golden Images Nov. 23, 20Y1 fill in the blank 647141fec064fba_5 days Oh That Hair Nov. 29, 20Y1 fill in the blank 647141fec064fba_6 days One Stop Hair Designs Dec. 2, 20Y1 fill in the blank 647141fec064fba_7 days Visions Hair & Nail Jan. 5, 20Y2 fill in the blank 647141fec064fba_8 days Feedback Area Feedback Count the number of days after the due date up to December 31. Do not include the due date in your count. Remember that not all months have an equal number of days. Add the accounts into the aging schedule based on their number of days past due. Apply the respective uncollectible percentage to the total receivables in each days past due group and the not past due group. The amount of bad debt expense is affected by the balance in the allowance account. Consider the effects of a contra asset not being recorded in terms of the balance sheet equation. Consider the effects of an expense not being reported in terms of the income equation. Question Content Area 2. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank. Wig Creations Company Aging of Receivables Schedule December 31, 20Y1 Customer Balance Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due 91-120 Days Past Due Over 120 Subtotals fill in the blank d0e25d08003c001_1 fill in the blank d0e25d08003c001_2 fill in the blank d0e25d08003c001_3 fill in the blank d0e25d08003c001_4 fill in the blank d0e25d08003c001_5 fill in the blank d0e25d08003c001_6 fill in the blank d0e25d08003c001_7 Arcade Beauty fill in the blank d0e25d08003c001_8 fill in the blank d0e25d08003c001_9 fill in the blank d0e25d08003c001_10 fill in the blank d0e25d08003c001_11 fill in the blank d0e25d08003c001_12 fill in the blank d0e25d08003c001_13 fill in the blank d0e25d08003c001_14 Creative Images fill in the blank d0e25d08003c001_15 fill in the blank d0e25d08003c001_16 fill in the blank d0e25d08003c001_17 fill in the blank d0e25d08003c001_18 fill in the blank d0e25d08003c001_19 fill in the blank d0e25d08003c001_20 fill in the blank d0e25d08003c001_21 Excel Hair Products fill in the blank d0e25d08003c001_22 fill in the blank d0e25d08003c001_23 fill in the blank d0e25d08003c001_24 fill in the blank d0e25d08003c001_25 fill in the blank d0e25d08003c001_26 fill in the blank d0e25d08003c001_27 fill in the blank d0e25d08003c001_28 First Class Hair Care fill in the blank d0e25d08003c001_29 fill in the blank d0e25d08003c001_30 fill in the blank d0e25d08003c001_31 fill in the blank d0e25d08003c001_32 fill in the blank d0e25d08003c001_33 fill in the blank d0e25d08003c001_34 fill in the blank d0e25d08003c001_35 Golden Images fill in the blank d0e25d08003c001_36 fill in the blank d0e25d08003c001_37 fill in the blank d0e25d08003c001_38 fill in the blank d0e25d08003c001_39 fill in the blank d0e25d08003c001_40 fill in the blank d0e25d08003c001_41 fill in the blank d0e25d08003c001_42 Oh That Hair fill in the blank d0e25d08003c001_43 fill in the blank d0e25d08003c001_44 fill in the blank d0e25d08003c001_45 fill in the blank d0e25d08003c001_46 fill in the blank d0e25d08003c001_47 fill in the blank d0e25d08003c001_48 fill in the blank d0e25d08003c001_49 One Stop Hair Designs fill in the blank d0e25d08003c001_50 fill in the blank d0e25d08003c001_51 fill in the blank d0e25d08003c001_52 fill in the blank d0e25d08003c001_53 fill in the blank d0e25d08003c001_54 fill in the blank d0e25d08003c001_55 fill in the blank d0e25d08003c001_56 Visions Hair & Nail fill in the blank d0e25d08003c001_57 fill in the blank d0e25d08003c001_58 fill in the blank d0e25d08003c001_59 fill in the blank d0e25d08003c001_60 fill in the blank d0e25d08003c001_61 fill in the blank d0e25d08003c001_62 fill in the blank d0e25d08003c001_63 Total fill in the blank d0e25d08003c001_64 fill in the blank d0e25d08003c001_65 fill in the blank d0e25d08003c001_66 fill in the blank d0e25d08003c001_67 fill in the blank d0e25d08003c001_68 fill in the blank d0e25d08003c001_69 fill in the blank d0e25d08003c001_70 Percent uncollectible 2% 4% 12% 18% 40% 80% Estimate of uncollectible accounts fill in the blank d0e25d08003c001_71 fill in the blank d0e25d08003c001_72 fill in the blank d0e25d08003c001_73 fill in the blank d0e25d08003c001_74 fill in the blank d0e25d08003c001_75 fill in the blank d0e25d08003c001_76 fill in the blank d0e25d08003c001_77 Feedback Area Feedback Count the number of days after the due date up to December 31. Do not include the due date in your count. Remember that not all months have an equal number of days. Add the accounts into the aging schedule based on their number of days past due. Apply the respective uncollectible percentage to the total receivables in each days past due group and the not past due group. The amount of bad debt expense is affected by the balance in the allowance account. Consider the effects of a contra asset not being recorded in terms of the balance sheet equation. Consider the effects of an expense not being reported in terms of the income equation. Question Content Area 3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule. $fill in the blank 68a3a1fd805ffa0_1 Feedback Area Feedback Count the number of days after the due date up to December 31. Do not include the due date in your count. Remember that not all months have an equal number of days. Add the accounts into the aging schedule based on their number of days past due. Apply the respective uncollectible percentage to the total receivables in each days past due group and the not past due group. The amount of bad debt expense is affected by the balance in the allowance account. Consider the effects of a contra asset not being recorded in terms of the balance sheet equation. Consider the effects of an expense not being reported in terms of the income equation. Question Content Area 4. Assume that the allowance for doubtful accounts for Wig Creations has a credit balance of $1,510 before adjustment on December 31, 20Y1. Journalize the adjustment for uncollectible accounts. If an amount box does not require an entry, leave it blank. Accounts Payable Accounts Payable Accounts Payable Accounts Payable Feedback Area