11. Aging of accounts receivable (LO4) Route Canal Shipping Company has the following schedule for aging of accounts receivable:

Age of Receivables April 30, 20X1
(1)	(2)	(3)	(4)
Month of Sales	Age of Account	Amounts	Percent of Amount Due
April.................................	030	$ 131,250	____
March...............................	3160	93,750	____
February...........................	6190	112,500	____
January.............................	91120	37,500	____
Total receivables...........		$ 375,000	100%

a. Fill in column (4) for each month.

b. If the firm had $1,500,000 in credit sales over the four-month period, compute the average collection period. Average daily sales should be based on a 120-day period.

c. If the firm likes to see its bills collected in 35 days, should it be satisfied with the average collection period?

d. Disregarding your answer to part c and considering the aging schedule for accounts receivable, should the company be satisfied?

e. What additional information does the aging schedule bring to the company that the average collection period may not show?