A business student was heard to make the following remark: With the advent of credit cards and
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A business student was heard to make the following remark: ‘With the advent of credit cards and the existence of factor businesses, it now possible for business entities to offer extensive credit facilities to customers without having to worry about accounting for accounts receivable and all the problems that it brings. Carrying one’s own accounts receivable will become a thing of the past.’ Discuss.
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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