Question

Ageing summaries

Outstanding sales invoices for the week ending 31 April 2017 are shown as follows:

Invoice date	Invoice number	Customer	Amount
6/1/17	806	K Gee	$ 326.40
26/02/17	849	T Tyler	$ 416.85
17/3/17	884	K Gee	$ 156.30
26/3/17	903	M Sams	$ 562.30
6/4/17	921	A Wolski	$ 318.65

1. Prepare an aged debtors schedule for the week ending 2 May 2017

Name	Current	30+	60+	90+

2. What action should be taken for each account?

Customer	Action to be taken
K Gee
T Tyler
M Sams
A Wolski

Additional Information

My retail Business Income Statement For year ended 30 June 2017
		$
Revenue
	Sales	458,580
less	TOTAL COST OF GOODS SOLD	334,764
	GROSS PROFIT	123,816
less OPERATING EXPENSES
	Accounting fees	560
	Advertising	4,168
	Bank charges	240
	Depreciation	632
	Electricity	762
	Insurances	1,650
	Interest paid	1,600
	Legal fees	210
	Rent	42,945
	Stationery	428
	Sundries	363
	Superannuation	3,488
	Telephone	936
	Wages	38,750
	Total operating expenses	96,732
	NET PROFIT	27,084

Answer 1