Question: Topaz Inc has accounts receivable terms of 2 10 n 30 In
Topaz Inc. has accounts receivable terms of 2/10, n/30. In the past, 50% of Topaz's customers have taken advantage of the discount and paid within 10 days of the invoice date, and the remaining 50% of customers have paid in full within 30 days of the invoice date. However, due to an economic recession this year, 30% of customers have paid within 10 days, 60% of customers have paid within 30 days, and the remaining 10% of customers have paid within 40 days. What steps might Topaz consider to speed up collection of its accounts receivable?
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