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Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 20X1 (1) 4) Percent of Month of

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Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 20X1 (1) 4) Percent of Month of Age of Sales Account Amounts Amount Due 0-30 147,840 April March 31-60 105.600 February 61-90 126,720 91-120 42,240 January 422,400 100% Total receivables a. Calculate the percentage of amount due for each month. Percent of Month of Sales Amount Due April March February January 100 Total receivables b. If the firm had $1,536,000 in credit sales over the four-month period, compute the average collection period. Average daily sales should be based on a 120-day period. Average collection period days

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