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Homework answers / question archive / Tippecanoe Industries has the following accounts receivable aging: 0-30 days, $7,351,000; 31-60 days
Tippecanoe Industries has the following accounts receivable aging: 0-30 days, $7,351,000; 31-60 days. $1,100,000; 61-90 days, $480,000; 91-120 days. $134,000; Total Accounts Receivable, $9,074,000. The company sells on terms of net 30. What is the percentage of total accounts receivable which is past-due? A. 19.0% B. 25.3% OC. 74.7% D. 81.0%
Answer: A. 19 %
| Age of Receivables | Amount |
| 31-60 days | $ 1,109,000 |
| 61-90 days | 480,000 |
| 91-120 days | 134,000 |
| Total | $ 1,723,000 |
Percentage of total accounts receivable which is past due = $ 1,723,000 / $ 9,074,000 = 18.99 % or 19 %
