Danica Patrick, Inc. includes the following account among its trade receivables.
ID: 2415792 • Letter: D
Question
Danica Patrick, Inc. includes the following account among its trade receivables.
Hopkins Co.
Age the balance.
Hopkins Co.
1/1 Balance forward 796 1/28 Cash (#1710) 1,159 1/20 Invoice #1710 1,159 4/2 Cash (#2116) 1,460 3/14 Invoice #2116 1,460 4/10 Cash (1/1 Balance) 299 4/12 Invoice #2412 2,067 4/30 Cash (#2412) 1,091 9/5 Invoice #3614 540 9/20 Cash (#3614 and part of #2412) 907 10/17 Invoice #4912 876 10/31 Cash (#4912) 876 11/18 Invoice #5681 2,152 12/1 Cash (#5681) 1,208 12/20 Invoice #6347 814 12/29 Cash (#6347) 814Explanation / Answer
Ageing of Trade Receivable AR Aging Schedule Date of sale Invoice# Invoice Amount amount recd Balance 0-30 30-60 60-90 90-120 > 120 01-Jan Balance 796 299 497 497 20-Jan 1,710 1159 1159 0 14-Mar 2116 1460 1460 0 12-Apr 2412 2067 1998 69 69 05-Sep 3614 540 0 540 540 17-Oct 4912 876 876 0 18-Nov 5681 2152 1208 944 944 20-Dec 6347 814 814 0 Total 9864 7814 2050
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