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The Mighty Power Tool Company has the following accounts on its books: (Click on the following icon 0 in order to copy its contents into
The Mighty Power Tool Company has the following accounts on its books: (Click on the following icon 0 in order to copy its contents into a spreadsheet) 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 been outstanding for more than 60 days. Fill in the following Mighty Power Tool Company Aging Schedule: (Round dollar amounts to the nearest dollar and percentages to one decimal place.) A total of $ is outstanding for more than 60 days and represents % of Mighty Power Tool Company's accounts receivable. (Round dollar amounts to the nearest dollar and percentages to one decimal place.)
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