File Home Insert Draw Formulas Data Review View Help O Editing v 11 B .00 .0 Calibri Number ... .00 E8 fx A B C D E F G H 1 Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. 3 4 Required: 1) Calculate the number of days unpaid, using the Excel DAYS function. Number of Today's Date 12/31/2022 12/31/2022| 12/31/2022 12/31/2022 12/31/2022 12/31/2022 12/31/2022 7 Customer Amount Invoice Date Days Unpaid 6/17/2022 12/21/2022| 10/12/2022 12/5/2022 11/29/2022| 11/20/2022 10/2/2022 8 Fitness Mania $2,500 9. Health for Life 1,900 10 Holistic Health Options 12,750 11 Image Reimaging 12 Today's Gym World 7,000 4,600 15,900| 3,800 $48,450 13 Whole Life Fitness Center 14 Workouts Unlimited 15 Total 16 17 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 18 19 Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs. 20 Calculate each "Total" cell by using the Excel SUM function and include all possible cells. Leave no cells blank. 21 HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUE],[VALUE IF FALSE])) 22 Number of Days Unpaid 23 Customer 0-30 31-60 61-90 Over 90 Total 24 Fitness Mania 25 Health for Life 26 Holistic Health Options
File Home Insert Draw Formulas Data Review View Help O Editing v 11 B .00 .0 Calibri Number ... .00 E8 fx A B C D E F G H 1 Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected. 3 4 Required: 1) Calculate the number of days unpaid, using the Excel DAYS function. Number of Today's Date 12/31/2022 12/31/2022| 12/31/2022 12/31/2022 12/31/2022 12/31/2022 12/31/2022 7 Customer Amount Invoice Date Days Unpaid 6/17/2022 12/21/2022| 10/12/2022 12/5/2022 11/29/2022| 11/20/2022 10/2/2022 8 Fitness Mania $2,500 9. Health for Life 1,900 10 Holistic Health Options 12,750 11 Image Reimaging 12 Today's Gym World 7,000 4,600 15,900| 3,800 $48,450 13 Whole Life Fitness Center 14 Workouts Unlimited 15 Total 16 17 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. 18 19 Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs. 20 Calculate each "Total" cell by using the Excel SUM function and include all possible cells. Leave no cells blank. 21 HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUE],[VALUE IF FALSE])) 22 Number of Days Unpaid 23 Customer 0-30 31-60 61-90 Over 90 Total 24 Fitness Mania 25 Health for Life 26 Holistic Health Options
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter6: Aging Accounts Receivable (aging)
Section: Chapter Questions
Problem 5R
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Question
please include the answers with the formulas so there is no confusion
![File
Home
Draw
Formulas
Data
Review
View
Help
O Editing v
Insert
.00
Calibri
V 11
ab
Number
...
.00
E8
fx
A
В
C
E
F
H
1
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected.
3
4
Required:
1) Calculate the number of days unpaid, using the Excel DAYS function.
6.
Number of
Today's Date
12/31/2022
12/31/2022
12/31/2022
12/31/2022
12/31/2022|
12/31/2022
12/31/2022
7
Customer
Amount
Invoice Date
Days Unpaid
$2,500
1,900
12,750
7,000
4,600
15,900
3,800
$48,450
6/17/2022
12/21/2022
10/12/2022
12/5/2022
11/29/2022
11/20/2022
10/2/2022
Fitness Mania
9.
Health for Life
10 Holistic Health Options
11 Image Reimaging
12 Today's Gym World
13
Whole Life Fitness Center
14 Workouts Unlimited
15 Total
16
17
2) Use the information above to complete the Aging of Accounts Receivable Schedule below.
18
19 Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs.
20 Calculate each "Total" cell by using the Excel SUM function and include all possible cells. Leave no cells blank.
HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUE],[VALUE IF FALSE]))
21
22
Number of Days Unpaid
23
Customer
0-30
31-60
61-90
Over 90
Total
24
Fitness Mania
25 Health for Life
26 Holistic Health Options
>
LO
N 00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb55c1690-4c18-4793-9129-6cd04f8390e3%2F9abd5534-92ee-46ed-81ca-80f690d7c67c%2Fd04pulb_processed.png&w=3840&q=75)
Transcribed Image Text:File
Home
Draw
Formulas
Data
Review
View
Help
O Editing v
Insert
.00
Calibri
V 11
ab
Number
...
.00
E8
fx
A
В
C
E
F
H
1
Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected.
3
4
Required:
1) Calculate the number of days unpaid, using the Excel DAYS function.
6.
Number of
Today's Date
12/31/2022
12/31/2022
12/31/2022
12/31/2022
12/31/2022|
12/31/2022
12/31/2022
7
Customer
Amount
Invoice Date
Days Unpaid
$2,500
1,900
12,750
7,000
4,600
15,900
3,800
$48,450
6/17/2022
12/21/2022
10/12/2022
12/5/2022
11/29/2022
11/20/2022
10/2/2022
Fitness Mania
9.
Health for Life
10 Holistic Health Options
11 Image Reimaging
12 Today's Gym World
13
Whole Life Fitness Center
14 Workouts Unlimited
15 Total
16
17
2) Use the information above to complete the Aging of Accounts Receivable Schedule below.
18
19 Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs.
20 Calculate each "Total" cell by using the Excel SUM function and include all possible cells. Leave no cells blank.
HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUE],[VALUE IF FALSE]))
21
22
Number of Days Unpaid
23
Customer
0-30
31-60
61-90
Over 90
Total
24
Fitness Mania
25 Health for Life
26 Holistic Health Options
>
LO
N 00
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