In anticipation of being asked about this by the company treasurer, Ethan collected a sample of accounts receivable information. The sample represents 10% of the companys accounts receivable outstanding.

Assist Ethan by organizing the sample data into an aging schedule using the categories shown. Then calculate the volume of accounts receivable outstanding and the percentage of total receivables outstanding in each category to complete the statements that follow.

Account Number	Invoice Date	Amount Due
1883	December 22	$461.50
1788	March 14	417.70
2215	January 19	1,872.30
2461	February 23	3,142.85
2538	March 31	468.70
1521	November 10	861.50
2762	December 8	1,029.10
1576	March 30	281.90
2677	April 24	3,346.25
1398	February 13	713.90
	Total:	$12,595.70

Federated Flour Company Aging Schedule, April 30

Days LatePeriod ArrearageCumulative Arrearage1-30 days$3,346.25$3,346.2531-60 days 4,514.5561-90 days 91+ days 12,595.70

An aging schedule provides insight into the condition of a firms accounts receivable. In this case, using the preceding sample data, the percentage of receivables that are 61-90 days late and 91+ days late are and , respectively. This has the potential to be a receivables and working capital management problem for Federated, because it means that the total dollar value for all of its accounts receivable that are more than 61 days late is . (Remember, the preceding sample data represents 10% of Federateds total volume of accounts receivable.)