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The Mighty Power Tool Company has the following accounts on its books: Customer Amount Owed ($) Age (days) ABC $47,150 32 DEF 37,500 7 GHI

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The Mighty Power Tool Company has the following accounts on its books: Customer Amount Owed ($) Age (days) ABC $47,150 32 DEF 37,500 7 GHI 18,900 14 KLM 72,000 28 NOP 41,450 43 QRS 16,000 11 TUV 84,300 58 WXY 39,500 75 The firm extends credit on terms of 1/15, net 30. Develop an aging schedule using 15-day increments through 60 days, and Fill in the following Mighty Power Tool Company Aging Schedule: (Round dollar amounts to the nearest dollar and percentages to one decimal place.) Days Outstanding Amount Owed Percent of Accounts Receivable 0-15

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