Aging schedules are used to monitor accounts receivable

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Reference no: EM131498719

Which one of the following statements is false??

?Aging schedules are used to monitor accounts receivable.

?An aging schedule includes only overdue accounts.

?If sales are seasonal, the percentages shown on an aging schedule will vary during the year

?Collection efforts may involve legal action

?Investments in accounts receivable equal average daily sales times average collection period.

Reference no: EM131498719

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