Prepare an aging schedule for united worldwides

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Reference no: EM131316836

United Worldwide's accounts receivable totaled $1.75 million on August 31, 2009. A breakdown of these outstanding accounts on the basis of the month in which the credit sale was initially made follows. The firm extends net 30, EOM credit terms to its credit customers

Month of Credit Sale	Accounts Receivable
Aug-09	$640,000
Jul-09	500,000
Jun-09	164,000
May-09	390,000
April 2009 or before	56,000
Total (August 31, 2009)	$1,750,000

a. Prepare an aging schedule for United Worldwide's August 31, 2009, accounts receivable balance.

b. Using your findings in part (a), evaluate the firm's credit and collection activities.

c. What are some probable causes of the situation discussed in part (b)?

Reference no: EM131316836

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