Hems Saved Help Sc Route Canal Shipping Company has the following schedule for aging of accounts receivable Percent of Amount Due Age of Receivables April 30, 20x1 (1) (2) (3) Month of Age of Sales Account Amounts April 2-30 $ 131,250 March 31-60 93,750 February 61-90 112,500 January 91-120 37.500 Total receivables $ 375,000 100 a. Calculate the percentage of amount due for each month N Month of Sales April March Percent of Amount Due 96 February January Total receivables 10 1001 72'F Rain off and o ED O hp Check my wc b. If the firm had $1,500,000 in credit sales over the four-month period. compute the average collection period. Average daily credit sales should be based on a 120-day period. Average collection period days c. If the firm likes to see its bills collected in 35 days, should it be satisfied with the average collection period? Yes No d. Disregarding your answer to port cand considering the aging schedule for accounts receivable, should the company be satisfied? Yes No