XL FILE - . HOME Aging of accounts receivable method - Excel PAGE LAYOUT FORMULAS DATA REVIEW ? X INSERT VIEW - 8 Sign in 20 Calibri Paste B I U . .. Cells Editing A. Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard A1 Xercise Cycles Company sells exercise equipment to gyms on account. At year 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (fx). Number of Days Unpaid Customer 8 Fitness Mania 9 Health for Life 10 Holistic Health Options 11 Image Reimaging 12 Today's Gym World 13 Whole Life Fitness Center 14 Workouts Unlimited 15 Total Amount 2,500 2,000 12,750 7,000 4,600 15.900 3,800 48,550 Invoice Date 6/17/2016 12/21/2016 10/12/2016 12/5/2016 11/29/2016 11/20/2016 10/2/2016 Today's Date 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 12/31/2016 S 17 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each aon category. nising the Feel IF and AND FIINCTIONS (v ta determine where each REQUIRED: Homework Chapter 5 Help Save & Exit FILE HOME Submit INSERT Aging of accounts receivable method - Excel PAGE LAYOUT FORMULAS DATA REVIEW Calibri E- ? 0 - Paste VIEW 5 X B I U 50 Sign in -A Clipboard Font BE - Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Styles Xercise Cycles Company sells exercise equipment to gyms on account. At year A1 D 17 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 18 Create a formula for each age category, using the Excel IF and AND FUNCTIONS (Ex) to determine where each customer amount belongs. 19 The IF statement may include the following arguments: <.>.>, C, Excel AND FUNCTION (fx). Number of Days Unpaid 61.90 31-60 Over 90 Total Customer 23 Fitness Mania 24 Health for Life 25 Holistic Health Options 26 Image Reimaging 27 Today's Gym World 28 Whole Life Fitness Center 29 Workouts Unlimited 30 Total Accounts Receivable 31 Estimated Uncollectible( %) 32 Estimated Uncollectible ($) 1096 --- Estimated Uncollectible ($) 2% 10% 20% 40961 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts had the following unadjusted balance: Allowance for Doubtful Accounts $250 credit balance B Bad Debt Expense 9 Allowance for Uncollectible Accounts 14) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 2 had the following unadjusted balance: 13 Allowance for Doubtful Accounts $100 debit balance 45 Bad Debt Expense 16 Allowance for Uncollectible Accounts Sheet1
