On December 31, after many attempts at collecting the outstanding balance of Copper Gallery, the controller...

  

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On December 31, after many attempts at collecting the outstanding balance of Copper Gallery, the controller decided to write off that balance. Aylmer calculates bad debt on trade receivables only, not on project receivables. Bad debt is estimated to be: 0-30 days 1% 31-60 days 5% 61-90 days 7.5% 91 - 120 days 10% Over 120 days 15% In the excel spreadsheet, see the tab labelled "Trade Accounts Receivable Detail" to perform any necessary calculations. Customer Name 4210119 Ont Ltd 43rd Street Place 6 Star Services 9900 International Corp A1 Distributions Aylmer Enterprises Booktime Services Box Top Inc Briar Forest Corp Cavhill Industries Colborne Corp Copper Gallery Dairy Ashford Corp Demilo Inc Dustin Enterprises Greenway Place Grosvenor Limited Houston Consultants Jesse Blackstone Joseph Company Lawrence Brothers Mapleton Express OKC Limited Oxford Distributing Paper Brands Plaid Corp Quality Logistics TC Jester Wellington Limited Westella Drive LTD Woodplank Inc. Yellow Street Ltd Zephyr Limited TOTAL Total Due 261,181 6,625 65,675 140,792 130,734 137,818 99,797 49,049 2,942 122,223 1,313 12,036 16,499 83,336 190,811 104,873 42,877 48,464 22,680 101,407 58,561 19,048 23,376 20,535 105,790 38,631 24,565 100,665 138,144 14,410 1,065 1,328 636 0-30 Days 155,894 6,494 31,310 90,981 65,944 134,586 99,643 13,031 1,443 31-60 days 61-90 days 91-120 days Over 120 50,199 131 664 318 30,699 49,811 62,902 13,031 1,499 61,999 60,113 1,313 2,187,886 1,138,389 - - 50,094 16,499 36,785 39,941 6,610 64,452 64,161 60,644 71,548 31,661 1,664 35,844 7,033 1,319 10,699 9,846 9,846 31,599 36,510 18,846 19,844 18,936 9,856 9,884 944 3,232 664 318 13,031 9,856 10,651 12,636 9,664 36,944 12,500 12,500 12,500 2,131 2,236 2,066 49,666 49,666 1,333 65,478 72,666 6,944 6,411 36,446 1,494 32,649 19,460 112 3,664 1,055 662,712 283,942 4,994 3,666 944 154 9,956 111 1,494 649 411 12,036 1,554 46,546 131 1,000 1,691 16,441 1,065 70,747 32,096 On December 31, after many attempts at collecting the outstanding balance of Copper Gallery, the controller decided to write off that balance. Aylmer calculates bad debt on trade receivables only, not on project receivables. Bad debt is estimated to be: 0-30 days 1% 31-60 days 5% 61-90 days 7.5% 91 - 120 days 10% Over 120 days 15% In the excel spreadsheet, see the tab labelled "Trade Accounts Receivable Detail" to perform any necessary calculations. Customer Name 4210119 Ont Ltd 43rd Street Place 6 Star Services 9900 International Corp A1 Distributions Aylmer Enterprises Booktime Services Box Top Inc Briar Forest Corp Cavhill Industries Colborne Corp Copper Gallery Dairy Ashford Corp Demilo Inc Dustin Enterprises Greenway Place Grosvenor Limited Houston Consultants Jesse Blackstone Joseph Company Lawrence Brothers Mapleton Express OKC Limited Oxford Distributing Paper Brands Plaid Corp Quality Logistics TC Jester Wellington Limited Westella Drive LTD Woodplank Inc. Yellow Street Ltd Zephyr Limited TOTAL Total Due 261,181 6,625 65,675 140,792 130,734 137,818 99,797 49,049 2,942 122,223 1,313 12,036 16,499 83,336 190,811 104,873 42,877 48,464 22,680 101,407 58,561 19,048 23,376 20,535 105,790 38,631 24,565 100,665 138,144 14,410 1,065 1,328 636 0-30 Days 155,894 6,494 31,310 90,981 65,944 134,586 99,643 13,031 1,443 31-60 days 61-90 days 91-120 days Over 120 50,199 131 664 318 30,699 49,811 62,902 13,031 1,499 61,999 60,113 1,313 2,187,886 1,138,389 - - 50,094 16,499 36,785 39,941 6,610 64,452 64,161 60,644 71,548 31,661 1,664 35,844 7,033 1,319 10,699 9,846 9,846 31,599 36,510 18,846 19,844 18,936 9,856 9,884 944 3,232 664 318 13,031 9,856 10,651 12,636 9,664 36,944 12,500 12,500 12,500 2,131 2,236 2,066 49,666 49,666 1,333 65,478 72,666 6,944 6,411 36,446 1,494 32,649 19,460 112 3,664 1,055 662,712 283,942 4,994 3,666 944 154 9,956 111 1,494 649 411 12,036 1,554 46,546 131 1,000 1,691 16,441 1,065 70,747 32,096

Answer rating: 100% (QA)

Particulars 030 Days 3160 Days 6190 Days 91120 Days Over 120 Total Trade Receivables A ... View the full answer