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	$	182,880	_______
March	3160		60,960	_______
February	6190		121,920	_______
January	91120		40,640	_______
Total receivables		$	406,400	100%

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. Average daily sales should be based on a 120-day period.

c. If the firm likes to see its bills collected in 37 days, should it be satisfied with the average collection period?

	Yes
	No

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

	Yes
	No