The Super Power Tool Company has the following accounts receivables on its books: The firm has credit
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Question:
The Super Power Tool Company has the following accounts receivables on its books:
The firm has credit terms of 1/15, net 30. Construct an ageing schedule using 15-day increments through to 60 days.
1) What percentage of Accounts Receivable dollar amount has 31-45 days outstanding? _% (Give answer as a percentage to 2 decimal places)
2) What dollar amount of Accounts Receivable has 0-15 days outstanding? $_ (Give answer to nearest dollar)
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