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Problem - Number of days past due
Honest Abe's Auto Supply distributes new and used automobile parts to local dealers throughout the Northeast. Honest Abe's credit terms are n/30. As of the end of business on July 31, the following accounts receivable were past due:
Account
Due Date
Amount
Alpha Auto
May 15
$ 9,000
Best Auto
July 8
3,000
Downtown Repair
March 18
7,500
Lucky's Auto Repair
June 1
5,000
Pit Stop Auto
June 3
750
Sally's
April 12
13,000
Trident Auto
May 31
1,500
Washburn Repair & Tow
March 2
Required - Determine the number of days each account is past due.
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