A South Miami aging report shows $72,000 current, $48,600 at 1-30 days, $39,700 at 31-60 days, $22,500 at 61-90 days, and $9,800 over 90 days. What amount is more than 30 days past due?
Correct Answer
D) $72,000
The aging total includes only the overdue buckets requested in the question.
Why This Is the Correct Answer
The aging total includes only the overdue buckets requested in the question.
Why the Other Options Are Wrong
Option A: $62,200
$62,200 is below the supported result for receivables aging; it likely uses the wrong base, period, or account bucket.
Option B: $49,500
$49,500 is below the supported result for receivables aging; it likely uses the wrong base, period, or account bucket.
Option C: $32,300
$32,300 is below the supported result for receivables aging; it likely uses the wrong base, period, or account bucket.
Memory Technique
Includes and only live in different drawers; Collection List tells which opens.
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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