A Winter Park aging report shows $58,000 current, $39,700 at 1-30 days, $41,400 at 31-60 days, $22,600 at 61-90 days, and $10,400 over 90 days. What amount is more than 30 days past due?
Correct Answer
B) $74,400
The requested aging total includes the stated overdue buckets for amounts more than 30 days past due.
Why This Is the Correct Answer
The requested aging total includes the stated overdue buckets for amounts more than 30 days past due.
Why the Other Options Are Wrong
Option A: $33,000
$33,000 is below the supported result for receivables aging; it likely uses the wrong base, period, or account bucket.
Option C: $64,000
$64,000 is below the supported result for receivables aging; it likely uses the wrong base, period, or account bucket.
Option D: $51,800
$51,800 is below the supported result for receivables aging; it likely uses the wrong base, period, or account bucket.
Memory Technique
Collection List money test: bucket before math for receivables aging.
Reference Hint
Open-book path: tab Builder's Guide to Accounting, 2001 to Section One, Managing Receivables, Track Your Receivables Trend; use the job ledger figures in the stem and recompute the same accounting measure.
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