Question: Table A summarizes the historical Accounts Receivables classifications and their default percentages in 2020 of your company. Table B lists the current customers of your
Table A summarizes the historical Accounts Receivables classifications and their default percentages in 2020 of your company. Table B lists the current customers of your company and how much they owe. You, as a Junior Accountant, are asked to perform a Aging Schedule by your supervisor. Calculate the Net A/R based on the historical default percentages. (Do not use the $ sign. If your answer is $123,456.78, enter 123456.78)
| Table A | |||||
| A/R Classifications | NDY | 1-30 days late | 31-60 | 61-90 | 90+ |
| % of Unocollectible | 2% | 7% | 12% | 32% | 45% |
| Table B | ||||||
| 2021 A/R | Total A/R | NDY | 1-30 days late | 31-60 | 61-90 | 90+ |
| Customer A | $2,000 | $500 | $500 | $1,000 | ||
| Customer B | $8,000 | $4,000 | $1,000 | $3,000 | ||
| Customer C | $5,000 | $2,000 | $2,000 | $1,000 | ||
NDY= Not Due Yet
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