You have been instructed to create an aging schedule for ELMs accounts receivable using IDEA. For the purposes of this exercise, assume the aging begins on the date that the customer is invoiced and should only include valid accounts receivable (e.g., amounts not yet fully paid by the customer). You can assume that rounding differences on discounts taken by customers are considered to be fully paid. Your senior has instructed you to create a schedule with the following tranches: Current, 030 days delinquent, 3160 days delinquent, 60+ days delinquent.

Required:

Using the information above, complete all of the related steps shown below using IDEA. After completing each step, answer each question by supplying the required information. (Enter your answers exactly as they appear in IDEA. Dollar amounts should be entered into 2 decimal places.)

What is the total amount of accounts receivable that are past due in less than 30 days? Recall that invoices are due n/30, thus they become past due 30 days after the invoice date.