$In$ this computer lab assignment, you will use Microsoft Excel $to$ construct $an$ aging schedule $of$

accounts recelvable and make the year$-$end adjusting entry $to$ estimate future bad debt expense.

See lilustration $5-6on$ page $226of$ our text for a sample completed aging schedule.

Points Passible: $10.To$ recelve full credit, use cell references and Excel formulas $In$ every yellow cell $(exceptH55)$ and the Name $of$ the Accounts $in$ your Journal entry Save your file with your name $in$ the file name

Submit the file $in$ Canvas

Use the information $on$ the Given Data worksheet $to$ complete this assignment.

ACCT $201$ Lab $4$ Aging $ofAR$ Stu

Auncave

Home

Insert

Draw

Page Layout

Formulas

Data

Review

View

Automate

Arial

$10$

$A^{-}{A}^{-}$

$ab$

Wrap Text

Merge & Center

$A1$

Given Data:

Kent Hospital provides all services $on$ account.

The total amount $of$ services $it$ provided $on$ account, $in2018$ was $$5,000,000.$

Management $at$ Kent Hospital believes that the following percentages $of$

accounts receivable will $be$ uncollectible for each category:

$\begin{array}{cc}\text{N}\text{o}\text{t}\text{y}\text{e}\text{t}\text{d}\text{u}\text{e}(current)& 10\%\\ 1-30\text{d}\text{a}\text{y}\text{s}\text{p}\text{a}\text{s}\text{t}\text{d}\text{u}\text{e}& 20\%\\ 31-60\text{d}\text{a}\text{y}\text{s}\text{p}\text{a}\text{s}\text{t}\text{d}\text{u}\text{e}& 35\%\\ 61-90\text{d}\text{a}\text{y}\text{s}\text{p}\text{a}\text{s}\text{t}\text{d}\text{u}\text{e}& 45\%\\ \text{M}\text{o}\text{r}\text{e}\text{t}\text{h}\text{a}\text{n}90\text{d}\text{a}\text{y}\text{s}\text{p}\text{a}\text{s}\text{t}\text{d}\text{u}\text{e}& 70\%\end{array}$

The balance $of$ Allowance for Uncollectible Accounts $on$ December $31,2018,$

before adjustment: $$2,892(debit$ balance$)$

Details $on$ Kent Hospital accounts receivable, $asof$ December $31,2018,$ are shown below:

Kent Hospital

Accounts Receivable

December $31,2018$

Days Past Due

$\begin{array}{cc}\text{A}\text{d}\text{a}\text{m}\text{s}\text{M}\text{a}\text{r}\text{k}& \text{\$}8\\ 000\mathrm{.}00& ?\\ ?& \text{B}\text{e}\text{m}\text{a}\text{r}\text{d}\\ \text{J}\text{a}\text{y}& \text{\$}\\ 12& 932\mathrm{.}00\end{array}$

$\begin{array}{cc}\text{F}\text{o}\text{n}\text{t}\text{a}\text{i}\text{n}& \text{E}\text{m}\text{i}\text{l}\text{y}\\ \text{\$}12& 360\mathrm{.}00\\ \text{G}\text{r}\text{e}\text{g}\text{i}\text{o}& \text{M}\text{a}\text{t}\text{t}\text{\$}5\\ 780\mathrm{.}00& ?\end{array}$

Check figure: Total $ARasof$ December $31,2018=$$$144,486$