Math A company has current accounts receivable of $185,200. If 18 percent of the total is past

Question:

Math A company has current accounts receivable of $185,200. If 18 percent of the total is past due, what amount needs to be collected?

The company identifies 1.4 percent of accounts receivable as more than 90 days past due and has turned those accounts over to a collection agency. If the agency collects 85 percent of the total owed and keeps 40 percent of the money collected as its fee, how much will the company be paid by the collection agency?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Business Finance

ISBN: 9780357532348

1st Edition

Authors: Les Dlabay, James L. Burrow

Question Posted: