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Accounting At Your Fingertips, 2e by George Murray, CPA.

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4.3 Accounts Receivable

Deciding on Your Credit Policy

Tracking Customer Accounts

The Accounts Receivable Aging Schedule

Accelerating Collections

Estimating Uncollectibles

In this subchapter, we tell you everything you always wanted to know about accounts receivable, commonly abbreviated by accountants as A/R. You learn how to set up credit policy and track customer accounts, speed collections, and deal with those funds you can’t collect.

Deciding on Your Credit Policy

If you’re going to allow sales on account, which is essential for most businesses, you’re going to have to decide how much credit you’re going to extend and to whom. This can be more challenging than it looks. If your credit terms are too lenient, your sales may be high, but ...

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