Firm XX has the following accounts receivable: ? Receivable Amount due Days outstanding A $11,000 10 B 13,456 35 C 23,110 42 D 13,222 62 E 9,776 31 The firm sells on credit and requires payment on the thirtieth day. What proportion of its sales are overdue and what proportion are more than ten days overdue?
What will be an ideal response?
The Aging Schedule:Days outstanding: 0-30 30-40 40-50 50-60 60+ $11,000 23,232 23,110 -- 13,222 15.6% 32.9 32.8 -- 18.7?Percent overdue: 100% - 15.6 = 84.4%?Percent more than 10 days overdue: 32.8% + 18.7 = 51.5%
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