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Saved Route Canal Shipping Company has the following schedule for aging of accounts receivable Age of Receivables April 38, 28x (2) Age of Account e-38

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Saved Route Canal Shipping Company has the following schedule for aging of accounts receivable Age of Receivables April 38, 28x (2) Age of Account e-38 31-68 61-90 91-120 (1) (3) (4) Percent of Amount Due Month of Amounts $131,76 49,418 115,290 32,948 $329,400 Sales April March February January Total receivables 100% a. Calculate the percentage of amount due for each month. Percent of Amount Due Month of Sales April % March % February January Total receivables 100% b.If the firm had $1.464,000 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 .If the firm likes to see its bills collected in 32 days, should it be satisfied with the average collection period? O Yes ONo

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