ALL ANSWERS MUST BE IN EXCEL FORMULAS USING THE CORRELATING COLUMNS. Xercise Cycles Company sells excercise equipment to gyms on account.

View History Bookmarks People Tab Window Help Connect education.com cel Assignment Saved FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In X Calibri -A % Paste BIU- M Editing Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font C24 X f F B D E 3 Required: 4 1) Calculate the number of days unpaid, USING THE EXCEL DAYS FUNCTION (Ex). 6 Number of 7 Customer Amount Invoice Date Today's Date Days Unpaid 8 Fitness Mania $ 2,500 6/17/2016 12/31/2016 197 9 Health for Life 2,000 12/21/2016 12/31/2016 10 10 Holistic Health Options 12.750 10/12/2016 12/31/2016 80 11 Image Reimaging 7,000 12/5/2016 12/31/2016 26 12 Today's Gym World 4,600 11/29/2016 12/31/2016 32 3 Whole Life Fitness Center 15,900 11/20/2016 12/31/2016 41 4 Workouts Unlimited 3,800 10/2/2016 12/31/2016 90 5 Total $ 48 550 2) Use the information above to complete the Aging of Accounts Receivable Schedule below. Create a formula for each age category, using the Excel IF and AND FUNCTIONS (Ex) to determine where each customer amount belongs. The IF statement may include the following arguments: >>, Excel AND FUNCTION() 20 21 Number of Days 22 23 Fitness Manis SO SO 50 $2.500 24 Health for Life 2.000 0 25 Holistic Health Options 26 Image Reimaging 27 Today's Gym World 28 Whole Life Fitness Center 29 Workouts Unlimited 30 Total Accounts Receivable 31 Estimated Uncollectible) 25 20% 405 32 Estimated Uncollectible (5) 105 34 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 35 had the following unadjusted balance: 36 Allowance for Doubtful Accounts $250 credit balance Prey 1 of 1 !!! Next 24.867 16 000 80 F3 000 F4 HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW 11 -AN M Peste BIU- Alignment Number Cells Eating Conditional Formatas Cell Formatting" Table Styles Styles Ciboard Font 024 B D 29 Workouts Unlimited 30 Total Accounts Receivable 31 Estimated Uncollectible(96) 29 10% 2056 40% 32 Estimated Uncollectible ($) 33 34 3) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtfal Accounts 35 had the following unadjusted balance: 36 Allowance for Doubtful Accounts $250 credit balance 37 38 Bad Debt Expense 39 Allowance for Doubtful Accounts 40 414) Prepare the adjusting journal entry for recording bad debt expense if the Allowance for Doubtful Accounts 42 had the following unadjusted balance: 43 Allowance for Doubtful Accounts $100 debit balance 44 45 Bad Debt Expense 46 Allowance for Doubtful Accounts 47 48 Prey 1 of 1 Next 24.85 16