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5. Big Fish Traders Inc. has the following accounts on its books: Customer Fish Market A Fish Market B Fish Market C Fish Market D
5. Big Fish Traders Inc. has the following accounts on its books: Customer Fish Market A Fish Market B Fish Market C Fish Market D Fish Market E Fish Market F Fish Market G Fish Market H Amount Owed ($) 70,000 45,000 35,000 17,000 26,000 24,000 68,000 48,000 Age (days) 37 8 14 26 48 16 57 94 The company extends credit on Terms of 1/15, net 30. Develop an aging schedule using 15-day increments through 60 days, and then indicate any accounts that have been outstanding for more than 60 days
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