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Instructions for the Microsoft Excel Templates

Be advised, the worksheet and workbooks are not protected.

Extensive detail and information is contained within the manual.

Striking the “F1” key or following the path “Windows>Excel Help” will invoke the Office Assistant and bring up one of several help menus.

You should enter your name, course ID, date, and instructor’s name into the cells at the top of the page.

Each page contains a page footer with a Page # of Page ## as well as time and date to assist in assembly of multiple pages.

Each worksheet contains the identification of the problem or exercise.

All formatting should have been accomplished to provide satisfactory presentation. See the text for additional assistance in formatting.

If more than one page is required by the problem, the page breaks are preset.

In general, the yellow highlighted cells are the cells which work and effort should be presented.
Place the proper account title in the cell where the word “Account title” appears on the template.
Place the value in the cell where the word “Value” or “Amount” appears on the template. A formula may be placed in some of these cells.

Write a formula into cells where the word “Formula” appears. In these cells, an amount calculated can be entered. An amount can be placed in these cells.

Place the explanation for the entry in the cell where the word “Text Explanation” appears on the template.

Insert the account number where “Acct Nbr” appears on the template during posting.

Insert the journal reference where “JOURN #” appears on the template during posting.

Insert the title in the cell where “TITLE” appears on the template.

The print area is defined to fit onto 8 1/2″ X 11″ sheets in portrait or landscape mode as required.
The gray filled cells define the perimeter of the problem and the print area.
The problem is formatted for whole dollars with comma separations (no cents) except where required.
The display may have “Freeze Pane” invoked so column titles remain visible during data entry.

Negative values may be shown as ($400) or -$400.

Consider using “Split” panes to assist in copy and paste of data.
Much of the exercises and problems can have data entered by the “look to” or “=A34” type formula where cell A34 contains the data to be entered. This precludes typing and data entry errors.
P8-3A

Presented below is an aging schedule for Joplin Company.

Customer          Total                Not Yet Due         Number of Days Past Due                                                

         1–30               31–60             61–90            Over 90        

Adisy                                    $20,000                                           $9,000           $11,000         Bloom                                  30,000              $30,000

Cai                    50,000              5,000                     5,000                $40,000         Dahl            38,000           $38,000

Others             1,20,000           72,000                  35,000           13,000

Total        $2,58,000        $1,07,000             $49,000         $24,000         $40,000         $38,000

Estimated percentage
uncollectible                                                3%                         5%                  12%                24%                50%

Total estimated
bad debts                          $37,140            $3,210                  $2,450           $2,880            $9,600           $19,000

At December 31, 2007, the unadjusted balance in Allowance for Doubtful Accounts is a credit of       $8,000

 Instructions:

(a) Journalize and post the adjusting entry for bad debts at December 31, 2007. (Use T accounts.)

(b) Journalize and post to the allowance account these 2008 events and transactions:

  1. May 1, a check for $600 is received from the customer whose account was written off as uncollectible on March 1.

(c) Journalize the adjusting entry for bad debts at December 31, 2008, assuming that the unadjusted balance in Allowance for Doubtful Accounts is a debit of                  $1,100             and the aging schedule indicates that total estimated bad debts will be                          $32,700