Ashley's Ad Agency's accounts receivable totaled $451,000 on January 30, 2003. An aging summary of receivables at this date follows: The firm extends 30-day credit terms to all its credit customers.
(a) Prepare an aging schedule for Ashley's Ad Agency.
(b) Evaluate the firm's collection performance.

Question

Ashley's Ad Agency's accounts receivable totaled $451,000 on January 30, 2003. An aging summary of receivables at this date follows:  The firm extends 30-day credit terms to all its credit customers.
(a) Prepare an aging schedule for Ashley's Ad Agency.
(b) Evaluate the firm's collection performance.

Quizplus · Accepted Answer

The Answer of Ashley's Ad Agency's accounts receivable totaled $451,000 on January 30, 2003. An aging summary of receivables at this date follows:  The firm extends 30-day credit terms to all its credit customers.
(a) Prepare an aging schedule for Ashley's Ad Agency.
(b) Evaluate the firm's collection performance.

Ashley's Ad Agency's Accounts Receivable Totaled $451,000 on January 30