Route Canal Shipping Company has the following schedule for aging of accounts receivable:

Age of Receivables April 30, 20X1
(1)	(2)	(3)		(4)
Month of Sales	Age of Account	Amounts		Percent of Amount Due
April	030	$	266,960	_______
March	3160		100,110	_______
February	6190		233,590	_______
January	91120		66,740	_______
Total receivables		$	667,400	100%

a. Calculate the percentage of amount due for each month.

Month of Sales	Percent of Amount Due
April		%
March		%
February		%
January		%
Total receivables	100	%

b. If the firm had $1,704,000 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 46 days, should it be satisfied with the average collection period?

No

Yes

d. Disregarding your answer to part c and considering the aging schedule for accounts receivable, should the company be satisfied?

Yes

No