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The Mighty Power Tool Company has the following accounts on its books: (Click on the following icon in order to copy its contents into a
The Mighty Power Tool Company has the following accounts on its books: (Click on the following icon in order to copy its contents into a spreadsheet.) Customer ABC DEF GHI KLM NOP QRS TUV WXY Amount Owed (5) $47,150 37,500 18,900 72,000 41,450 16,000 84.300 39.500 Age (days) 32 7 14 28 43 11 58 75 The firm extends credit on terms of 1/15, net 30. Develop an aging schedule using 15-day increments through 60 days, and then indicate any accounts that have Fill in the following Mighty Power Tool Company Aging Schedule: (Round dollar amounts to the nearest dollar and percentages to one decimal place.) Amount Owed Days Outstanding 0-15 Percent of Accounts Receivable %
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