Question
he Mighty Power Tool Company has the following accounts on its books: Customer Amount Owed ($) Age (days) ABC $47 comma 15047,150 3232 DEF 37
he Mighty Power Tool Company has the following accounts on its books:
Customer | Amount Owed ($) | Age (days) |
|
ABC | $47 comma 15047,150 | 3232 | |
DEF | 37 comma 50037,500 | 77 | |
GHI | 18 comma 90018,900 | 1414 | |
KLM | 72 comma 00072,000 | 2828 | |
NOP | 41 comma 45041,450 | 4343 | |
QRS | 16 comma 00016,000 | 1111 | |
TUV | 84 comma 30084,300 | 5858 | |
WXY | 39 comma 50039,500 | 7575 |
The firm extends credit on terms of
1 divided by 15 comma net 301/15, net 30.
Develop an aging schedule using
1515-day
increments through
6060
days, and then indicate any accounts that have been outstanding for more than
6060
days.
Fill in the following Mighty Power Tool Company Aging Schedule:
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