Extending Credit to Customers.
"Please site all resources and or references used" The company you work for has had the policy to extend credit terms to a majority of your customers, and this has had a two-fold effect.
The company has gained many new customers, but the company has also experienced difficulties collecting the monies owed due to the volume of accounts receivables. How would you address the accounting effects of this approach with upper management?
Also, in your view, what would be the next steps for improvement that the company would need to undertake in order to correct the problem? Explain your reasoning.