Billingsley Entertainment has the aging schedule shown below....
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Accounting
Billingsley Entertainment has the aging schedule shown below. Assume that the receivables in each age category have an age equivalent to the midpoint of the range. Calculate an average age of accounts receivable rounded up to the nearest day. Please click on the following link to access a blank Excel-type worksheet: Blank XLS Worksheet.xls Age Amount PERCENT $500,000 38.46% 0-30 days 30-60 days $350,000 26.92% $450,000 34.62% 60-90 days Total $1,300.000 100.00% Average age = 43.848 =(15*0.3846)+(45*0.2692)+ (75'0.3462) 43.848 Average age = 44 days 0 48 days O 53 days 0 61 days
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