Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the accounts receivable clerk for kirchhoff indust

The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables...

80.2K

Verified Solution

Question

Accounting

The accounts receivable clerk for Kirchhoff Industries prepared the following partially completed aging of receivables schedule as of the end of business on November 30:

Not Days Past Due
Past Over
Customer Balance Due 1-30 31-60 61-90 90
Academy Industries Inc. 4,700 4,700
Ascent Company 4,100 4,100
Zoot Company 11,000 11,000
Subtotals 822,200 496,600 180,900 78,900 41,100 24,700

The following accounts were unintentionally omitted from the aging schedule and not included in the subtotals above:

Customer Balance Due Date
Conover Industries $11,500 July 11
Keystone Company 8,200 September 19
Moxie Creek Inc. 16,400 October 17
Rainbow Company 9,900 November 4
Swanson Company 22,200 December 21

Question Content Area

a. Determine the number of days past due for each of the preceding accounts as of November 30. If an account is not past due, enter 0.

Customer Due Date Number of Days Past Due
Conover Industries July 11 fill in the blank d9620d0c504f03e_1 days
Keystone Company September 19 fill in the blank d9620d0c504f03e_2 days
Moxie Creek Inc. October 17 fill in the blank d9620d0c504f03e_3 days
Rainbow Company November 4 fill in the blank d9620d0c504f03e_4 days
Swanson Company December 21 fill in the blank d9620d0c504f03e_5 days

Feedback Area

Feedback

Question Content Area

b. Complete the aging-of-receivables schedule by adding the omitted accounts to the bottom of the schedule and updating the totals. If an amount box does not require an entry, leave it blank.

Customer Balance Not Past Due Days Past Due 1-30 Days Past Due 31-60 Days Past Due 61-90 Days Past Due Over 90
Academy Industries Inc. 4,700 4,700 fill in the blank c5fc59050f89ffd_1 fill in the blank c5fc59050f89ffd_2 fill in the blank c5fc59050f89ffd_3 fill in the blank c5fc59050f89ffd_4
Ascent Company 4,100 fill in the blank c5fc59050f89ffd_5 4,100 fill in the blank c5fc59050f89ffd_6 fill in the blank c5fc59050f89ffd_7 fill in the blank c5fc59050f89ffd_8
Zoot Company 11,000 fill in the blank c5fc59050f89ffd_9 fill in the blank c5fc59050f89ffd_10 11,000 fill in the blank c5fc59050f89ffd_11 fill in the blank c5fc59050f89ffd_12
Subtotals 822,200 496,600 180,900 78,900 41,100 24,700
Conover Industries fill in the blank c5fc59050f89ffd_13 fill in the blank c5fc59050f89ffd_14 fill in the blank c5fc59050f89ffd_15 fill in the blank c5fc59050f89ffd_16 fill in the blank c5fc59050f89ffd_17 fill in the blank c5fc59050f89ffd_18
Keystone Company fill in the blank c5fc59050f89ffd_19 fill in the blank c5fc59050f89ffd_20 fill in the blank c5fc59050f89ffd_21 fill in the blank c5fc59050f89ffd_22 fill in the blank c5fc59050f89ffd_23 fill in the blank c5fc59050f89ffd_24
Moxie Creek Inc. fill in the blank c5fc59050f89ffd_25 fill in the blank c5fc59050f89ffd_26 fill in the blank c5fc59050f89ffd_27 fill in the blank c5fc59050f89ffd_28 fill in the blank c5fc59050f89ffd_29 fill in the blank c5fc59050f89ffd_30
Rainbow Company fill in the blank c5fc59050f89ffd_31 fill in the blank c5fc59050f89ffd_32 fill in the blank c5fc59050f89ffd_33 fill in the blank c5fc59050f89ffd_34 fill in the blank c5fc59050f89ffd_35 fill in the blank c5fc59050f89ffd_36
Swanson Company fill in the blank c5fc59050f89ffd_37 fill in the blank c5fc59050f89ffd_38 fill in the blank c5fc59050f89ffd_39 fill in the blank c5fc59050f89ffd_40 fill in the blank c5fc59050f89ffd_41 fill in the blank c5fc59050f89ffd_42
Totals fill in the blank c5fc59050f89ffd_43 fill in the blank c5fc59050f89ffd_44

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students