Chucks Auto Supply distributes new and used automobile parts

Chuck\'s Auto Supply distributes new and used automobile parts to local dealers through- out the Southeast. Chuck\'s credit terms are n/30. As of the end of business on July 31, the following accounts receivable were past due: Amount $5,000 4,500 2,000 1,800 Account Due Date June 9 July 10 March 18 May 19 June 18 April 12 May 8 April 15 Ben\'s Pickup Shop Bumper Auto Downtown Repair Jake\'s Auto Repair Like New Sally\'s Uptown Auto Yellowstone Repair & Tow 750 2,800 1,500 3,100 Determine the number of days each account is past due.

Solution

Solution:

Computation of number of days account past due
Account	Due Date	Amount	Period end date	Nos of days past due
Ben\'s Pickup shop	9-Jun	$5,000.00	31-Jul	52
Bumper Auto	10-Jul	$4,500.00	31-Jul	21
Downtown repair	18-Mar	$2,000.00	31-Jul	135
Jake\'s auto repair	19-May	$1,800.00	31-Jul	73
Like New	18-Jun	$750.00	31-Jul	43
Sally\'s	12-Apr	$2,800.00	31-Jul	110
Uptown Auto	8-May	$1,500.00	31-Jul	84
Yellowstone repair & Tow	15-Apr	$3,100.00	31-Jul	107