Assignment 3.

1 Aging of Receivables
98% 95% 90% 80%
CUSTOMER INVOICE DATE 0-30 days 31-60 days 61-90 days 91-120 days
Gudang 9/12/2014 139,200.00
Tisoy 12/12/2014 153,600.00
12/2/2014 99,200.00
Gusoy 11/17/2014 185,120.00
10/8/2014 176,000.00
Naning 12/8/2014 160,000.00
10/25/2014 44,800.00
8/20/2014
Nanong 9/27/2014 96,000.00
Balong 8/20/2014
Peejong 12/6/2014 112,000.00
11/29/2014 169,440.00
Unadjusted balances 524,800.00 354,560.00 220,800.00 235,200.00
Writeoff, Balong
Posting error (99,200.00) 99,200.00
425,600.00 453,760.00 220,800.00 235,200.00
Diferrence
Adjusted Balance 425,600.00 453,760.00 220,800.00 235,200.00
Allowance for Doubtdul Accounts (%) 2% 5% 10% 20%
Allowance for Doubtdul Accounts 8,512.00 22,688.00 22,080.00 47,040.00

AFDA
Writeoff 71,360.00 46,720.00 AFDA per GL
144,960.00 Bad Debt Expense
120,320.00
Answers:
1.) 144,960.00
2.) 120,320.00
 50%
>120 days SL GL
139,200.00
153,600.00
99,200.00
185,120.00
176,000.00
160,000.00
44,800.00
40,000.00 40,000.00
96,000.00
71,360.00 71,360.00
112,000.00
169,440.00
111,360.00 1,446,720.00 1,466,720.00
(71,360.00) (71,360.00) (71,360.00)

40,000.00 1,375,360.00 1,395,360.00

(20,000.00)
40,000.00 1,375,360.00 1,375,360.00
50%
20,000.00 (120,320.00) (120,320.00)
1,255,040.00 1,255,040.00

ad Debt Expense