The Russ Fogler Company, a small manufacturer of cordless telephones, began operations on January 1. Its credit sales for the first 6 months of operations were a follows:

Month Credit Sales January....................$ 50,000 February...................100,000 March......................120,000 April.........................105,000 May........................140,000 June........................160,000

Throughout this entire period, the firm's credit customers maintained a constant payments pattern: 20% paid in the month of sale, 30% paid in the month following the

b. Assume 90 days per calendar quarter. What were the average daily sales (ADS) and days sales outstanding (DSO) for the first quarter and for the second quarter? What were the cumulative ADS and DSO for the first half-year?

c. Construct an aging schedule as of June 30. Use amount ages of 0-30, 31-60, and 61-90 days.

d. Construct the uncollected balances schedule for the second quarter as of June 30.