The American Accounting Association classifies accounts receivable as

“current,” “late,” and “not collectible.” Industry figures show that 60 percent of accounts receivable are current, 30 percent are late, and 10 percent are not collectible. Massa and Barr, a law firm in Greenville, Ohio, has 500 accounts receivable: 320 are current, 120 are late, and 60 are not collectible. Are these numbers in agreement with the industry distribution? Use the .05 significance level.