Explanation

Aging schedule is an accounting table that indicates the list of invoices outstanding according to the period of time.
It helps the companies in spotting the problems related to credit policies and cash flows.
If the sales decreases, then the percentage in the 0-10-day category will be low and the reverse will occur if sales are rising.

Verified Answer

Aging schedule is a report that shows the items which are overdue; it could be payments or receipts.