SAT APP: Aging of Accounts

Start Assignment

Due Feb 2 by 10:30am Points 10 Submitting a text entry box

Available Feb 2 at 7:30am - Feb 2 at 10:30am 3 hours

PROBLEM 1

The following are accounts receivable of your client as of December 31,2021:

ACCOUNTS DATE DEBIT CREDIT

10-Aug 487  

11-Sep   487

12-Sep 486  

20-Oct 345  

KIND, INC. 23-Oct 271  

25-Nov   616

24-Dec 1,000  

28-Dec   457

29-Dec   846

4-Sep 648      -    

7-Sep 152  

10-Sep   648
TENDER CO.
26-Nov 201  

2-Dec 286  

6-Jan   201
 1-Aug 898  

2-Sep   898

14-Nov 714  

18-Dec 1,206  
THUNDER CORP.
23-Dec   500

29-Dec   100

15-Jan   700

16-Jan   714

18-Sep 413  

20-Sep 216  

15-Oct   200

29-Oct 1,195  
KEEN CO.
30-Oct   200

30-Nov 904  

27-Dec   200

31-Jan   413

20-Jul 660  

15-Sep 1,020  

3-Oct 849  

31-Oct 904  

3-Nov   20

15-Nov   660

KNOW, LTD. 4-Dec 1,516  

11-Dec   1,000

15-Dec   202

20-Dec   800

6-Jan   702

11-Jan   716

25-Jan   101

REQUIRED:

Prepare Aging of Accounts Using (excel format):

 1. FIFO
2. Specific Invoice Basis

Prepare PAJE

Some Rubric

Criteria Ratings Pts

Description of criterion 5 pts 0 pts

Full Marks No Marks 5 pts

Total Points: 5