The accountant for Thomass Furniture Store is concernedregarding the outstanding

The accountant for Thomass Furniture Store is concernedregarding the outstanding receivable owed the company. There hasbeen a cash flow problem and it is believed that the slowcollection of accounts receivable is partially the blame. Theaccountant believes that 40% of the present accounts are more than4 months behind in making payments. To be able to make a decisionregarding this belief a random sample of 100 accounts was taken.It was found that 37 accounts were more than 4 months late. Did thesample data confirm the accountants belief? Use the .05significant level for the statistical test.