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Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected 1 2 3 Required: 1) Calculate
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected 1 2 3 Required: 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). 4 5 Number of 6 Invoice Date Today's Date Days Unpaid Customer Amount 2,500 8 Fitness Mania 6/17/2016 12/31/2016 197 12/21/2016 2,000 9 Health for Life 12/31/2016 10 10 Holistic Health Options 11 Image Reimaging 12 Today's Gym World 12,750 10/12/2016 12/31/2016 80 12/31/2016 7,000 12/5/2016 26 12/31/2016 12/31/2016 12/31/2016 4,600 11/29/2016 32 11/20/2016 13 Whole Life Fitness Center 15,900 41 10/2/2016 14 Workouts Unlimited 3,800 90 $ 48,550 15 Total 16 17 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 1 Create a formula for each age category, using the Excel IF and AND FUNCTIONS (fx) to determine where each customer amount belongs 19 The IF statement may include the following arguments: , >=,
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