Evaluate the firm collection performance

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Reference no: EM131360889

An Ad Agency's accounts receivable totaled $451,000 on January 30,2003. An aging summary of receivables at this date follows:

End of the Month:

Jan., 2003 $250,000

Dec., 2002 $100,000

Nov., 2002 $50,000

Oct., 2002 $30,000

Sept., 2002 before $21,000

Total $451,000

The firm extends 30-day credit terms to all its credit customers.

(a) Prepare an aging schedule for Ad Agency

(b) Evaluate the firm's collection performance.

Reference no: EM131360889

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