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Aging of receivables schedule The accounts receivable clerk for Kirchhoff Indus tries pre pared 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.

BuyFind

Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094
BuyFind

Accounting

27th Edition
WARREN + 5 others
Publisher: Cengage Learning,
ISBN: 9781337272094

Solutions

Chapter
Section
Chapter 9, Problem 9.8EX
Textbook Problem

Aging of receivables schedule

The accounts receivable clerk for Kirchhoff Indus tries pre pared the following partially completed aging of receivables schedule as of the end of business on August 31:

Chapter 9, Problem 9.8EX, Aging of receivables schedule The accounts receivable clerk for Kirchhoff Indus tries pre pared the

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
  1. a. Determine the number of days past due for each of the preceding accounts as of August 31.
  2. 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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Chapter 9 Solutions

Accounting
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