llllll
A firm has $ 50,000 in receivables on December 1, 2021. The sales represented by this amount were made as follows: $ 20.000 in November, $ 15,000 in October, $ 10.000 in September and the remainder prior to September. If the credit terms offered by the firm are "2/10 net 30", prepare an ageing schedule keeping in view the credit period and comment on the collection efforts of the firm.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!