Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toots credit
Question:
Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toot’s credit terms are n/30. As of the end of business on October 31, the following accounts receivable were past due:
Determine the number of days each account is past due as of October 31.
Transcribed Image Text:
Account Due Date Amount August 15 October 4 Avalanche Auto $12,000 2,400 Bales Auto Derby Auto Repair Lucky's Auto Repair Pit Stop Auto Reliable Auto Repair June 26 3,900 September 10 September 24 July 2 August 25 May 23 6,600 1,100 9,750 Trident Auto 1,800 Valley Repair & Tow 4,000
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Account Receivables It is the amount to be received within a specific shorter period from customers ...View the full answer
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Vipul Bhalara
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398169
15th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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