Simmons Brick Company had gross sales of $42,000 in November, $56,000 in December, $28,000 in January,...

Simmons Brick Company had gross sales of $42,000 in November, $56,000 in December, $28,000 in January, $320,000 in February and $35,000 in March. The collections department estimates that 35 percent of the customers pay in the month of sale; 55 percent pay the next month; and the remaining 10 percent pay two months after purchase. Assume 90 days in the quarter.

. Calculate the days sales outstanding for the first quarter.

. Complete an aging schedule for the first quarter.

. Complete an uncollected balances (payments pattern) schedule for the first quarter.

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