Business, 27.06.2020 02:01 ytopete13p15c8p
The accounts receivable clerk for Waddell Industries prepared the following partially completed aging of receivables schedule as of the end of business on August 31:
Not Past Due Days Past Due
1-30 31-60 61-90 Over 90
Customer Balance
Acme Industries Inc. 3,000 3,000
Alliance Company 4,500 4,500
Zollinger Company 5,000 5,000
Subtotals 1,050,000 600,000 220,000 115,000 85,000 30,000
The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals:
Customer Balance Due Date
Builder's Industries $44,500 May 1
Elkhom Company $21,000 June 20
Granite Creek Inc. $7,500 July 13
Lockwood Company $14,000 September 9
Teton Company $13,000 August 7
(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.
Answers: 1
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The accounts receivable clerk for Waddell Industries prepared the following partially completed agin...
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