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 Month of Sales April March February January a. Calculate the percentage of amount due for each month. Percent of Amount Due % % % % 100 % Total receivables Age of Account 0-30 31-60 61-90 91-120 Amounts $ 212,220 94,320 141,480 23,580 $ 471,600 (4) Percent of Amount Due Yes 100% b. If the firm had $1,572,000 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 41 days, should it be satisfied with the average collection period?

Route Canal Shipping Company has the following schedule for aging of accounts receivable: o. Calculate the percentage of amount due for each month. b. If the firm had $1,572,000 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 41 days, should it be satisfied with the average collection period