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How would manage the collection of receivables

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Reference no: EM132716909

Imagine you own a business that sells to customers on trade credit. For example, you manufacture luxury soaps and you sell these soaps to boutique stores in your hometown area.

Problem 1: How would you manage the collection of receivables?

Problem 2: Even with careful planning, sometimes receivables become uncollectible. Which method would you use to write off an uncollectible account? Explain your reasons.

Problem 4: What procedures would you put into place to encourage customers to pay their bills on time?

Reference no: EM132716909

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