What method would use direct vs allowance

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As a new college graduate, you have been hired as the head of Accounts Receivable. Looking at the accounting records, you notice a lot of unpaid invoices that are over 2 years in arrears. The owner of the business keeps complaining about how much they have paid in taxes. They feel it is an excessive amount and do not seem to have the cash flow to keep paying it.

Question 1: You want to impress your new employer. You have decided to develop 5 tasks that would help clean up the records and provide your boss a "light at the end of the tunnel" to gain cash flow and pay less taxes. List each of the five actions, what method you would use (ex: net vs gross, direct vs allowance), and the result you would expect.

Reference no: EM132889378

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