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Trade credit creates accounts or debtors receivables. Trade credit is utilized as a marketing tool to expand competitive advantage over trade rivals. A firm's investment in accounts receivable would based upon the volume of collection period and credit sales. Such investment in receivables can be decreased or increased through altering the credit policy variables. The major variables of credit policy are cash discount and credit period. The collection efforts of the firm are intend at accelerating collection and reducing bad debt losses from slow players. Factoring includes sale of receivables to specialized firms termed as factors. Factoring is fundamentally used for the timely collection of debts and to improve liquidity. Factors charge commission and interest on advances for other services.
What is the implications of applying accounting concepts wrongly?
Which of the following procedures involves transferring amounts recorded in the general journal to ledger accounts? Answer a. preparing a tria
QUESTION 4: Spanking Clean (Ltd) operate a number of car washes and auto valet services. The company has experienced a reasonable trading year. They are deciding whether to pay ou
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Accounts required and their purpose a. Branch Current Account (Head Office Books) Records all transactions branch and head office; The balance represents the investmen
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