The previous year was difficult for us. We have also been hit by the Russian economy, since a considerable percentage of our goods are sold in Russia. Similarly, our consumers have been hesitant to pay us. Additionally, we are noticing an increase of receivables above 90 days. Our issues are attributable the matter to our customer L.D corp.

L.D is one of our most important clients, with whom we have an ongoing commercial connection. Payments are now based on the most current steel pricing in its ( L.D) system, as opposed to the price shown on our invoice. As a consequence, the firm has underpaid our bills, and we have devoted a significant amount of work to determining what went wrong. As of now, we have $225,000 in account receivables associated to L.D that are past due by more than 180 days.

Requirements:

Add Issues, Handbook Analysis, Recommendations and Calculations in a cpa way/format

PLease note this is critical thinking case study