After granting credit to customers, it is important for a firm to have a monitoring system to check on those customers who are overdue in their payments. The table below shows the aging schedule of Travel Again Pte Ltd's accounts receivable. i) Calculate the percentage of balance outstanding (to 2 decimal places) for each age group
ii) If the credit period given to these customers is 30 days, evaluate whether the company has been performing well in managing its accounts receivable. (3 marks) iii) Discuss another technique that may be used to monitor the quality of Travel Again Pte Ltd's accounts receivable. (2 marks