Age analysis for creditor M. Lake as of July 2023:
Purchases made in April 2022: R440
Purchases made in May 2022: R390
Purchases made in June 2022: R820
Purchases made in July 2022: R650
1. Calculate the total amount due:
Total amount due = R440 + R390 + R820 + R650
Total amount due = R2300
2. Calculate the payment made in full for June 2022:
Payment made in full for June 2022 = Total amount due - (R440 + R390 + R650)
Payment made in full for June 2022 = R2300 - R1480
Payment made in full for June 2022 = R820
3.1. Calculate the 0-30 days amount due:
Purchases made in July 2022: R650
0-30 days amount due = R650
3.2. Calculate the balance due by M. Lake:
Balance due by M. Lake = Total amount due - Payment made in full for June 2022 - 0-30 days amount due
Balance due by M. Lake = R2300 - R820 - R650
Balance due by M. Lake = R830
Therefore, the 0-30 days amount due is R650, and the balance due by M. Lake is R830.
The present month is July 2023. Prepare an age analysis for a creditor using the information provided below:
Purchases made in July 2022: R650
Purchases made in June 2022: R820
Payment made in full for June 2022: R?
Purchases made in may 2022: R390
Purchases made in April 2022 :R440
3. Show the following: show all calculations
3.1. The 0-30 days amount due
3.2. The balance due by M. Lake
1 answer
1 answer