Question: Chocolate Delights is primarily a cash business. However, for some business customers, Paul offers them credit terms until the 20th of the following Month for

Chocolate Delights is primarily a cash business. However, for some business customers, Paul offers them credit terms until the 20th of the following Month for corporate parties. Below is the Aged of Accounts Receivable as at 31 March: Remember to use the Debtors account when recording Accounts Receivable, and account for 15% GST. After this poor result, Paul has decided to change the Accounts Receivable collection policy for the next financial year. The new collection policy requires businesses to pay a 20% deposit prior to the function/party and the balance payable the day after

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