Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 20x1 (1) Month of Sales April March February January Total receivables Month of Sales April March February January (2) Age of Account 0-30 31-60 61-90 91-120 Total receivables a. Calculate the percentage of amount due for each month. (3) Amounts $ 212,220 94,320 141,480 23,580 $ 471,600 Percent of Amount Due % % % % 100 % (4) Percent of Amount Due 100%

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 $1,572,000 in credit sales over the four-month period, compute the average collection period. Average dally credit sales shouid be based on a 120-day period. c. If the firm likes to see its bulls collected in 41 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 recelvable, should the company be satisfied