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    Credit Sales & Collection Policies

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    Please help with the following problem involving financial accounting and bookkeeping.

    What are your thoughts on the issues and procedures that a business must consider regarding credit sales and collections. Summarize your recommendations in memo form.

    © BrainMass Inc. brainmass.com October 1, 2020, 11:29 pm ad1c9bdddf
    https://brainmass.com/business/credit-card-sales/credit-sales-collection-policies-274307

    Solution Preview

    To: Mike Anderson, Sales Manager, All Sales Persons.
    FROM: Jennifer Smith, Finance Assistant,
    DATE: October 7, 2xxx
    SUBJECT: Credit Sales & Collections

    We need to reiterate the credit policy of our company. This memo will set down the procedures that need to be followed for sanctioning credit sales. Further, we need to fix the responsibility for collections regarding credit sales. We shall discuss issues relating to credit sales and collection that directly affect the financial health of the company.

    During the year ended 31st December we had an unprecedented 12% doubtful/bad debt that was up from ...

    Solution Summary

    The following posting helps with a financial accounting and bookkeeping problem. It discusses thoughts on the issues and procedures that a business must consider regarding credit sales and collections.

    $2.19

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