The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as

Question:

The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on August 31:

The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals:
Customer _______________ Balance ____________ Due Date
Conover Industries ........... $30,000 ...................... March 22
Keystone Company ........... 18,000 ........................... July 1
Moxie Creek Inc. ............... 9,000 .......................... July 25
Rainbow Company ........... 26,400 .................. September 10
Swanson Company ........... 46,600 ....................... August 3
a. Determine the number of days past due for each of the preceding accounts as of August 31.
b. Complete the aging of receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Aging Schedule
Aging schedule is an accounting table that shows a company’s account receivables. It is an summarized presentation of accounts receivable into a separate time brackets that the rank received based upon the days due or the days past due. Generally...