Assessment 1 -Activity 3 Debtors Ageing Summary Report You are to create a debtor ageing summary report for the year 2017/2018 for the CEO. You will be using the forecasted yearly sales figure that you have calculated previously. Next refer to the case study details. Using the percentages provided - calculate the figures for the report. After you have finished your yearly calculations you will then need to break down equally per quarter. w Submit your printed calculation to your assessor. You will also be using this report as part of your role play for Assessment 2. Debtors ageing budget The historical records show that the debtors balance at the end of each quarter is usually about 20% of the quarter's sales. At any time in the debtor's balances 1% of the total debtors is overdue 90 days and over, 5% is 60 days overdue, 10% is 30 days overdue and the balance of the total debtors is current. The aged debtors' budgets are only distributed to the accountant and the accounts receivable clerk. Here is a template of the standard format that Cucina a Isola Hotel utilizes. Aged debtors Aged Debtors Budget Total Yearly 2017/2018 Qtr. 1 Qtr. 2 Qtr. 3 Qtr.4 Sales X.XXX XXXX X.XXX X,XXX % Debtors Sales Total Debtors % Calculation Calculation Calculation Calculation Current % Calculation Calculation Calculation Calculation 30 Days % Calculation Calculation Calculation Calculation 60 Days % Calculation Calculation Calculation Calculation 90 Days % Calculation Calculation Calculation Calculation