Please help me!!!! Thank you!!! Number of DaysPast DueCustomerDue DateMay 22, 20Y8Oct. 10, 20Y6Adams Sports and FilesBlue Dun FilesCicada Fish Co.Sept. 29, 20Y6Oct. 20, 20Y6Deschutes SportsGreen River SportsΝov 7,2ΟΥΝov. 28, 20Υ8Smith River CoWestem Trout CompanyWolfe SportsDec. 7, 20Y6Jan. 20, 20Y7Aging of Receivables ScheduleDecember 31, 20Y63.Days Past DueOverNot PastBalanceDue1-3031-6061 - 9091 - 120120CustomerAAA Outfitters%2420,00020,000Brown Trout Fly Shop7,5007,5004,0004,000S 1,300,0005,0004,900Zigs Fish Adventures20.00080,000$ 750,000S 290,000$ 120,00040.000SubtotalsAdams Sports and FliesBlue Dun Files8,400Cicada Fish Co.Deschutes Sports7.0003,500Green River SportsSmith River Co.2,4006,8004,4005 1,342 400Western Trout CompanyWolfe SportsTotalsPercent uncollectibleEstimate ofuncollectible accounts OBJ. 4PR 9-2A Aging of receivables; estimating allowance for doubtful accountsTrophy Fish Company supplies flies and fishing gear to sporting goods stores and outers throughout the western United States. The accounts receivable clerk for Trophy Faprepared the following partially completed aging of receivables schedule as of the endof business on December 31, 20Y6:A.BGH.CNotD.Days Past DuePastBalance20,0007,50091-120 Over 120Customer4 AAA Outfitters5 Brown Trout Fly ShopDue20,0001-3031-6061-907,50030 Zigs Fish Adventures31 Subtotals4,0001,300,000 750,000 290,000 120,0004,00040,000 20,00080,000The following accounts were unintentionally omitted from the aging schedule:CustomerDue DateBalanceAdams Sports & FliesMay 22, 20Y6Oct. 10, 20Y6$5,000Blue Dun Flies4,900Cicada Fish Co.Sept. 29, 20Y68,400Deschutes SportsOct. 20, 20Y67,000Green River SportsNov. 7, 20Y63,500Smith River Co.Nov. 28, 20Y62,400Western Trout CompanyWolfe SportsDec. 7, 20Y66,800Jan. 20, 20Y74,400Trophy Fish has a past history of uncollectible accounts by age category, as follows:PercentUncollectibleAge ClassNot past due1-30 days past due31-60 days past due61-90 days past due91-120 days past dueOver 120 days past due1%210304080Instructions1. Determine the number of days past due for each of the preceding accounts.2. Complete the aging of receivables schedule by adding the omitted accounts to thebottom of the schedule and updating the totals.3. Estimate the allowance for doubtful accounts, based on the aging of receivables schedule.4 Assume that the allowance for doubtful accounts for Trophy Fish Company has a debitbalance of $3,600 before adjustment on December 31, 20Y6. Journalize the adjustingentry for uncollectible accounts.5. Assuming that the adjusting entry in (4) was inadvertently omitted, how would theomission affect the balance sheet and income statement?123 45

1. Customer Due date No. of days past due Adams sports and files May 22, 20Y6 223 days Blue…

Answered: 1. Determine the number of days past…

Business

Accounting

1. Determine the number of days past due for each of the preceding accounts.

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter8: Receivables

Section: Chapter Questions

Problem 2PA: Aging of receivables; estimating allowance for doubtful accounts Trophy Fish Company supplies flies...

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