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A) Create an Aging Schedule for ABC Rentals using the following information: o R. Smith owes $300 from last week, $400 from last month
A) Create an Aging Schedule for ABC Rentals using the following information: o R. Smith owes $300 from last week, $400 from last month and $100 from 3 months ago. o J.Jones owes $450 from 2 weeks ago & $375 from 2 months ago. o B.Brown owes $700 from last month, $100 from 2 months ago and $100 from 3 months ago. W.Wells owes $250 from 4 months ago Based on past experience, ABC feels that only 1% of its 0-30 day receivables will become uncollectible, 3% of its 31-60 day, 10% of its 61-90 days, 40% of its 90-120 days and 80% of anything over that.
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