Question

1. Swenson Electric Company sells on terms of “net 30”. Given the following information on its receivables, complete the aging of accounts schedule below as of September 1, showing the percentage of accounts that are current, 1 to 30 days past due, 31 to 60 days past due, 61 to 90 days past due, and over 90 days past due. (Assume 30 days in each month)

Account Number	Invoice Date	Amount Due
1311	August 15	$1315
1773	July 14	721
1217	July 25	677
1319	August 14	1711
1814	April 10	325
1713	August 5	917
1443	May 8	493
1144	June 28	211
1972	May 5	755
1011	April 21	377
1619	August 28	1550
1322	August 13	275
1173	March 5	675
1856	August 12	695
1317	June 10	720

Fill in the table below for this problem 12 pts

Current	1-30 Past Due	31-60 Past Due	61-90 Past Due	90+ Past Due	Total
$	$	$	$	$	$
%	%	%	%	%	%

Answer 1

Account Number	Invoice Date	Amount Due	O/s as on 1st September	Current (net 30)	1-30 past due	31-60 past due	61-90 past due	90+ days past due	Total
1311	15-Aug	1315	17	1315	0	0	0	0	1315
1773	14-Jul	721	49	0	721	0	0	0	721
1217	25-Jul	677	38	0	677	0	0	0	677
1319	14-Aug	1711	18	1711	0	0	0	0	1711
1814	10-Apr	325	144	0	0	0	0	325	325
1713	05-Aug	917	27	917	0	0	0	0	917
1443	08-May	493	116	0	0	0	493	0	493
1144	28-Jun	211	65	0	0	211	0	0	211
1972	05-May	755	119	0	0	0	755	0	755
1011	21-Apr	377	133	0	0	0	0	377	377
1619	28-Aug	1550	4	1550	0	0	0	0	1550
1322	13-Aug	275	19	275	0	0	0	0	275
1173	05-Mar	675	180	0	0	0	0	675	675
1856	12-Aug	695	20	695	0	0	0	0	695
1317	10-Jun	720	83	0	0	720	0	0	720
		11417		6463	1398	931	1248	1377	11417
				57%	12%	8%	11%	12%	100%