Question
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
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 | 618,200 | 343,000 | 148,400 | 68,000 | 22,900 | 20,400 | 15,500 |
The following accounts were unintentionally omitted from the aging schedule:
Customer | Due Date | Balance | ||
Arcade Beauty | May 28, 20Y1 | $2,600 | ||
Creative Images | Sept. 7, 20Y1 | 5,400 | ||
Excel Hair Products | Oct. 17, 20Y1 | 700 | ||
First Class Hair Care | Oct. 24, 20Y1 | 1,800 | ||
Golden Images | Nov. 23, 20Y1 | 600 | ||
Oh That Hair | Nov. 29, 20Y1 | 3,100 | ||
One Stop Hair Designs | Dec. 2, 20Y1 | 2,000 | ||
Visions Hair & Nail | Jan. 5, 20Y2 | 6,600 |
Wig Creations has a past history of uncollectible accounts by age category, as follows:
Age Class | Percent Uncollectible | |
Not past due | 1 | % |
1-30 days past due | 3 | |
31-60 days past due | 10 | |
61-90 days past due | 15 | |
91-120 days past due | 35 | |
Over 120 days past due | 75 |
Required:
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 b7e698fc601807e_1 days |
Creative Images | Sept. 7, 20Y1 | fill in the blank b7e698fc601807e_2 days |
Excel Hair Products | Oct. 17, 20Y1 | fill in the blank b7e698fc601807e_3 days |
First Class Hair Care | Oct. 24, 20Y1 | fill in the blank b7e698fc601807e_4 days |
Golden Images | Nov. 23, 20Y1 | fill in the blank b7e698fc601807e_5 days |
Oh That Hair | Nov. 29, 20Y1 | fill in the blank b7e698fc601807e_6 days |
One Stop Hair Designs | Dec. 2, 20Y1 | fill in the blank b7e698fc601807e_7 days |
Visions Hair & Nail | Jan. 5, 20Y2 | fill in the blank b7e698fc601807e_8 days |
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