An aging schedule is prepared only for accounts receivables that have been past due for more than one year.

Name: An aging schedule is prepared only for accounts receivables that have been past due for more than one year.
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An aging schedule may be prepared for all accounts receivables regardless of their past due status. It is typically used to track and analyze the length of time that invoices remain unpaid, and to identify overdue accounts for follow-up and collection efforts.

An Aging Schedule Is Prepared Only for Accounts Receivables That