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Advise peter of possible actions he may take to ensure

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Jonathan Price owns and conducts a business restoring antique furniture. As he has a loyal customer base he often grants credit of up to 30 days to his clients. However he prefers to pay cash for his operating expenses as soon as he receives the invoices for the goods or services purchased. Due to Covid 19 a number of credit customers are taking longer than their credit terms to pay Jonathan. As a result, he is concerned that this may result in him having cash flow difficulties and not be able to pay his operating expenses as soon as he receives the invoice for expenses.

Problem 1: Advise Peter of possible actions he may take to ensure that he is able to pay his operating expenses.

Reference no: EM132941090

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