Xereise Cycies Company sells exercise cquipment to gyms on account. At year end, the following accounts recelvable were uncoliccted. Here are some tips for using Excel: Cell Reference: Basic Math Functions: SUM Function: If Function: AND Function: DAYs Function: Never type a number from an Excel sheet elsewhere in the sheet. Instead, type an equals sign and then click the cell that includes the number. For cxample, -BS would return the number from 85 . Use symbols (++) to add, subtract, multiply, and dwide in Excel. Do not do ary calculations by hand. This function sums multiple cells. You can enter indlividual cell references ar ranges. For cxample, "-SUM(C4,C5,C5)" and "-5UM (C4:CE) " will both return the value of C4+C5+CE. This function tests whether a condition is met or not. The syntax is "-IF(test_condition, value_If_true,value_If_false)." Enter the condition you want to test, what you would like Excel to return if the condition is met, and what you would like Excel to return if the condition is not met. For exemple, if you cntered "-IF(C6) 10 , "YAY", "OH NO"), the formula wauld first check whether the number in CE is greater than 1D. If it is, the formula will enter "YAr" into the cell. If C6 ks iess than 10, the formula will enter "OH NO" into the cell. Thi function allows you to connect two different arguments. For cxample, AND/B2>10,B3>10) refers to the condition where BOTH B2 and B3 are greater than 10 . If you entered "-IF(AND(B2>10,B3,10), "YAY*" , UH OHF the formula would check whether B2 and B3 are both greater than 10 and then return cither a YAY or an UH OH. When combining multiple functions in this way, make sure you use the same number of closing parentheses as opening parentheses. This function calculates the number of days between two dates. The syntex is "-DAYS(end_datestart_date)". Required: 1. Calculate the number of days cach account has boen unpaid using the-DArs function. 2. Use the information from Requirement 1 to complete the Aging af Accounts Recelvable Schedule. Use the -If function to determine where each customer amount belongs. Do not leave any cells blank. Use -AND to check date manges. For cxample, to go in Column C, a recelvable must be older than 30 days AND less than 61 days old. Use-suM to calculate each total. Include cells even if their amount is zero so this table can be easily updated for different recelvables balances. 3. Prepare the journal entry to record bad debt cxpense assuming the existing Allowance for Doubtful Acecunts balance is as shown. \begin{tabular}{|l|r|r|} \hline Allowance for Doubtful Accounts & $250 & credit balance \\ \hline Bad Debt Expense & & \\ \hline Allowance for Doubtful Accounts & & \\ \hline \end{tabular} Xereise Cycies Company sells exercise cquipment to gyms on account. At year end, the following accounts recelvable were uncoliccted. Here are some tips for using Excel: Cell Reference: Basic Math Functions: SUM Function: If Function: AND Function: DAYs Function: Never type a number from an Excel sheet elsewhere in the sheet. Instead, type an equals sign and then click the cell that includes the number. For cxample, -BS would return the number from 85 . Use symbols (++) to add, subtract, multiply, and dwide in Excel. Do not do ary calculations by hand. This function sums multiple cells. You can enter indlividual cell references ar ranges. For cxample, "-SUM(C4,C5,C5)" and "-5UM (C4:CE) " will both return the value of C4+C5+CE. This function tests whether a condition is met or not. The syntax is "-IF(test_condition, value_If_true,value_If_false)." Enter the condition you want to test, what you would like Excel to return if the condition is met, and what you would like Excel to return if the condition is not met. For exemple, if you cntered "-IF(C6) 10 , "YAY", "OH NO"), the formula wauld first check whether the number in CE is greater than 1D. If it is, the formula will enter "YAr" into the cell. If C6 ks iess than 10, the formula will enter "OH NO" into the cell. Thi function allows you to connect two different arguments. For cxample, AND/B2>10,B3>10) refers to the condition where BOTH B2 and B3 are greater than 10 . If you entered "-IF(AND(B2>10,B3,10), "YAY*" , UH OHF the formula would check whether B2 and B3 are both greater than 10 and then return cither a YAY or an UH OH. When combining multiple functions in this way, make sure you use the same number of closing parentheses as opening parentheses. This function calculates the number of days between two dates. The syntex is "-DAYS(end_datestart_date)". Required: 1. Calculate the number of days cach account has boen unpaid using the-DArs function. 2. Use the information from Requirement 1 to complete the Aging af Accounts Recelvable Schedule. Use the -If function to determine where each customer amount belongs. Do not leave any cells blank. Use -AND to check date manges. For cxample, to go in Column C, a recelvable must be older than 30 days AND less than 61 days old. Use-suM to calculate each total. Include cells even if their amount is zero so this table can be easily updated for different recelvables balances. 3. Prepare the journal entry to record bad debt cxpense assuming the existing Allowance for Doubtful Acecunts balance is as shown. \begin{tabular}{|l|r|r|} \hline Allowance for Doubtful Accounts & $250 & credit balance \\ \hline Bad Debt Expense & & \\ \hline Allowance for Doubtful Accounts & & \\ \hline \end{tabular}