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 $ 227,010 _______ March 3160 129,720 _______ February 6190 194,580 _______ January 91120 97,290 _______ Total receivables $ 648,600 100% a. Calculate the percentage of amount due for each month. b. If the firm had $1,692,000 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. c. If the firm likes to see its bills collected in 45 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