Question

A financial officer for a company wants to estimate the percent of accounts receivable that are more than 30 days overdue. He surveys 600 accounts and finds that 323 are more than 30 days overdue.

Answer 1

To estimate the percent of accounts receivable that are more than 30 days overdue, divide the number of overdue accounts by the total number of accounts surveyed and multiply by 100.

Step-by-step explanation:

The financial officer is trying to estimate the percent of accounts receivable that are more than 30 days overdue. To do this, the officer conducted a survey of 600 accounts and found that 323 were more than 30 days overdue. To find the percent, divide the number of accounts more than 30 days overdue (323) by the total number of accounts surveyed (600). Then, multiply the result by 100 to get the percentage.

Percent of accounts receivable more than 30 days overdue = (Number of accounts more than 30 days overdue / Total number of accounts surveyed) * 100

Percent of accounts receivable more than 30 days overdue = (323 / 600) * 100

Percent of accounts receivable more than 30 days overdue = 53.8%