A company's accounts receivable days went from 32 days in 2022 to 25 days in 2023. The business sales are consistent throughout the year. Management tells you that eight months ago, they added an additional accounts receivable clerk to the accounting department, who is solely responsible for collection. Now they are in the process of reviewing their payment terms and have started offering discounts for early payment as well as moving customers who have a record of slow payment from 30 day terms to payment due on receipt. What would likely happen to the company's accounts receivable in 2024 (next year)?

Answer rating: 100% (QA)

Based on the information provided its likely that the companys accounts receivable in 2024 will cont... View the full answer