Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 20X1 (2) (3) Month of Sales April March February January (1) Total receivables April March a. Calculate the percentage of amount due for each month. Percent of Amount Due % % % % Month of Sales February January Age of Account 0-30 31-60 61-90 91-120 Total receivables Amounts $ 182,880 60,960 121,920 40, 640 $ 406,400 100% (4) Percent of Amount Due 100% Check b. If the firm had $1,524,000 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.

Route Canal Shipping Company has the following schedule for aging of accounts receivable: a. Calculate the percentage of amount due for each month. b. If the firm had $1,524,000 in credit sales over the four-month period, compute the average collection period. Averao dailv credit sales should be based on a 120 -day period