Question: Table A summarizes the historical Accounts Receivables classifications and their default percentages in 2020. Table B lists the current customers of your company and how

Table A summarizes the historical Accounts Receivables classifications and their default percentages in 2020. Table B lists the current customers of your company and how much they owe. You, as a Junior Accountant, are asked to perform an Aging Schedule by your supervisor. Calculate the Net A/R based on the historical default percentages.

Table A

Historical A/R Classifications

Default Percentages

Not Due Yet (NDY)

3%

1-30 days late

5%

31-60 days late

8%

61-90 days late

17%

90+ days late

28%

Table B

2021 A/R

Amounts to be Collected

NDY

1-30 days late

31-60

61-90

90+

Customer A

$2,000

$500

$500

$1,000

Customer B

$8,000

$4,000

$1,000

$3,000

Customer C

$5,000

$2,000

$2,000

$1,000

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