toot auto supply distributes new and used automobile parts to local dealers througho 546048

EX 8-7 Number of days past due

Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toot’s credit terms are n/30. As of the end of business on October 31, the following accounts receivable were past due:

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Account

Due Date

Amount

Avalanche Auto

August 8

$12,000

Bales Auto

October 11

2,400

Derby Auto Repair

June 23

3,900

Lucky’s Auto Repair

September 2

6,600

Pit Stop Auto

September 19

1,100

Reliable Auto Repair

July 15

9,750

Trident Auto

August 24

1,800

Valley Repair & Tow

May 17

4,000

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