Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toot’s credit terms are n/30. As of the end of business on October 31, the following accounts receivable were past due: Account Due Date Amount Avalanche Auto August 15 $12,000 Bales Auto October 4 2,400 Derby Auto Repair June 26 3,900 Lucky’s Auto Repair September 10 6,600 Pit Stop Auto September 24 1,100 Reliable Auto Repair July 2 9,750 Trident Auto August 25 1,800 Valley Repair & Tow May 23 4,000 Determine the number of days each account is past due as of October 31.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5EA: Review the following transactions and prepare any necessary journal entries for Tolbert Enterprises....
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Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toot’s credit terms are n/30. As of the end of business on October 31, the following accounts receivable were past due:

Account Due Date Amount
Avalanche Auto August 15 $12,000
Bales Auto October 4 2,400
Derby Auto Repair June 26 3,900
Lucky’s Auto Repair September 10 6,600
Pit Stop Auto September 24 1,100
Reliable Auto Repair July 2 9,750
Trident Auto August 25 1,800
Valley Repair & Tow May 23 4,000

Determine the number of days each account is past due as of October 31.

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