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Homework answers / question archive / Route Canal Shipping Company has the following schedule for aging of accounts receivable:  Age of Receivables  April 30, 20X1 (1) (2) (3) (4) Month of Age of Percent of 4 Sales Account Amounts Amount Due points April 0-30 $ 267,030 March 31-60 59,340 February 61-90 237,360 2 02:35:05 January 91-120 29,670 Total receivables $ 593,400 100%  a

Route Canal Shipping Company has the following schedule for aging of accounts receivable:  Age of Receivables  April 30, 20X1 (1) (2) (3) (4) Month of Age of Percent of 4 Sales Account Amounts Amount Due points April 0-30 $ 267,030 March 31-60 59,340 February 61-90 237,360 2 02:35:05 January 91-120 29,670 Total receivables $ 593,400 100%  a

Accounting

Route Canal Shipping Company has the following schedule for aging of accounts receivable: 
Age of Receivables 
April 30, 20X1 (1) (2) (3) (4) Month of Age of Percent of 4 Sales Account Amounts Amount Due points April 0-30 $ 267,030 March 31-60 59,340 February 61-90 237,360 2 02:35:05 January 91-120 29,670 Total receivables $ 593,400 100% 
a. Calculate the percentage of amount clue for each month. 
Month of Sales Percent of Amount Due April ? % March ? February ? % January ? % Total receivables 100 % 

b. lithe firm had $1,656,000 in credit sales over the four-month period, compute the average collection period. Average daily credit sales should be based on a 120-day period. 
Average collection period 
 

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