This is an excel question having trouble to figure out formulas. Please write them out. Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs.Calculate each "Total" cell by using the Excel SUM function and Include all possible cells. Leave no cells blank.HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUE],[VALUE IF FALSE]))Number of Days UnpaldCustomer0-3031-6061-90Over 90TotalFitness ManiaHealth for LifeHolistic Health OptionsImage ReimagingToday's Gym WorldWhole Life Fitness CenterWorkouts UnlimitedTotal Accounts RecelvableEstimated Uncollectible( %)Estimated Uncollectible ($)2%10%25%45% Xercise Cycles Company sells exercise equipment to gyms on account. At year end, the following accounts receivable were uncollected.Required:1) Calculate the number of days unpaid, using the Excel DAYS function.Number of DaysToday's Date12/31/202212/31/2022CustomerAmountInvoice DateUnpaldFitness Mania$2,5006/17/20221,90012,7507,000Health for Life12/21/2022Holistic Health OptionsImage ReimagingToday's Gym World10/12/202212/5/2022|11/29/202211/20/202212/31/202212/31/202212/31/202212/31/202212/31/20224,600Whole Life Fitness Center15,900Workouts Unlimited3,80010/2/2022Total$48,450

Estimated Uncollectible - Estimated Uncollectible is the debtors which are due for the period of…

Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs. Calculate each "Total" cell by using the Excel SUM function and include all possible cells. Leave no cells blank. HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUEJ,[VALUE IF FALSE])) Number of Days Unpald Customer 0-30 31-60 61-90 Over 90 Total Fitness Mania Health for Life Holistic Health Options Image Reimaging Today's Gym World Whole Life Fitness Center Workouts Unlimited Total Accounts Receivable Estimated Uncollectible( %) Estimated Uncollectible ($) 2% 10% 25% 45%

Create a formula for each age category, using the Excel IF function to determine where each customer amount belongs. Calculate each "Total" cell by using the Excel SUM function and include all possible cells. Leave no cells blank. HINT: Use the =AND function to check for date ranges. For example, =IF(AND(E8>30,E8<=60),[VALUE IF TRUEJ,[VALUE IF FALSE])) Number of Days Unpald Customer 0-30 31-60 61-90 Over 90 Total Fitness Mania Health for Life Holistic Health Options Image Reimaging Today's Gym World Whole Life Fitness Center Workouts Unlimited Total Accounts Receivable Estimated Uncollectible( %) Estimated Uncollectible ($) 2% 10% 25% 45%

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

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