The operating cycle of a merchandiser with credit sales includes the following five activities. Starting with merchandise

Question:

The operating cycle of a merchandiser with credit sales includes the following five activities. Starting with merchandise acquisition, identify the chronological order of these five activities.
a. _____ purchases of merchandise.
b. _____ credit sales to customers.
c. _____ inventory made available for sale.
d. _____ cash collections from customers.
e. _____ accounted for.

Accounts Receivable
Accounts 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...