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How actions improve the collections of accounts receivable

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The table below presents the average settlement period for accounts receivable for William Muffet Ltd for the years 2017 to 2019. The ratios showed that the customers have been taking more time to pay their accounts, compared to the permitted length of credit of not more than 18 days.

 

2017

2018

2019

Average settlement period for accounts receivable

21.9

29.7

34.8

Problem 1: As a credit manager for William Muffet Ltd, suggest three actions to speed up the collection of accounts receivable. Explain in detail how these actions can improve the collections of accounts receivable.

Reference no: EM132712087

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