Financial & Managerial Accounting
13th Edition
ISBN: 9781285866307
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Textbook Question
Chapter 8, Problem 8.8EX
Aging of receivables schedule
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:
The following accounts were unintentionally omitted from the aging schedule and not included in the preceding subtotals:
Customer | Balance | Due Date |
Builders Industries | 544,500 | May 1 |
Eikhorn Company | 21,000 | June 20 |
Granite Creek Inc. | 7,500 | July 13 |
Lockwood Company | 14,000 | September 0 |
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.
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Financial & Managerial Accounting
Ch. 8 - What are the three classifications of receivables?Ch. 8 - Dans Hardware is a small hardware store in the...Ch. 8 - What kind of an account (asset, liability, etc.)...Ch. 8 - After the accounts are adjusted and closed at the...Ch. 8 - A firm has consistently adjusted its allowance...Ch. 8 - Which of the two methods of estimating...Ch. 8 - Neptune Company issued a note receivable to...Ch. 8 - Prob. 8DQCh. 8 - The maker of a 240,000, 6%, 90-day note receivable...Ch. 8 - The note receivable dishonored in Discussion...
Ch. 8 - Prob. 8.1APECh. 8 - Prob. 8.1BPECh. 8 - Prob. 8.2APECh. 8 - Prob. 8.2BPECh. 8 - Prob. 8.3APECh. 8 - Prob. 8.3BPECh. 8 - Analysis of receivables method At the end of the...Ch. 8 - Prob. 8.4BPECh. 8 - Prob. 8.5APECh. 8 - Note receivable Prefix Supply Company received a...Ch. 8 - Prob. 8.6APECh. 8 - Prob. 8.6BPECh. 8 - Classifications of receivables Boeing is one of...Ch. 8 - Prob. 8.2EXCh. 8 - Entries for uncollectible accounts, using direct...Ch. 8 - Prob. 8.4EXCh. 8 - Prob. 8.5EXCh. 8 - Prob. 8.6EXCh. 8 - Number of days past due Toot Auto Supply...Ch. 8 - Aging of receivables schedule The accounts...Ch. 8 - Estimating allowance for doubtful accounts Waddell...Ch. 8 - Prob. 8.10EXCh. 8 - Prob. 8.11EXCh. 8 - Prob. 8.12EXCh. 8 - Entries for bad debt expense under the direct...Ch. 8 - Entries for bad debt expense under the direct...Ch. 8 - Prob. 8.15EXCh. 8 - Effect of doubtful accounts on net income Using...Ch. 8 - Prob. 8.17EXCh. 8 - Prob. 8.18EXCh. 8 - Prob. 8.19EXCh. 8 - Prob. 8.20EXCh. 8 - Entries for notes receivable The series of seven...Ch. 8 - Prob. 8.22EXCh. 8 - Entries for receipt and dishonor of note...Ch. 8 - Prob. 8.24EXCh. 8 - Prob. 8.25EXCh. 8 - Accounts receivable turnover and days' sales in...Ch. 8 - Prob. 8.27EXCh. 8 - Accounts receivable turnover and days' sales in...Ch. 8 - Prob. 8.29EXCh. 8 - Allowance method entries The following...Ch. 8 - Aging of receivables; estimating allowance for...Ch. 8 - Compare two methods of accounting for...Ch. 8 - Prob. 8.4APRCh. 8 - Notes receivable entries The following data relate...Ch. 8 - Sales and notes receivable transactions The...Ch. 8 - Allowance method entries The following...Ch. 8 - Prob. 8.2BPRCh. 8 - Compare two methods of accounting for...Ch. 8 - Prob. 8.4BPRCh. 8 - Notes receivable entries The following data relate...Ch. 8 - Sales and notes receivable transactions The...Ch. 8 - Ethics and professional conduct in, business Bev...Ch. 8 - Prob. 8.2CPCh. 8 - Prob. 8.3CPCh. 8 - Prob. 8.4CPCh. 8 - Prob. 8.5CP
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