Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN: 9781337395083
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
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Chapter 22, Problem 1MC
Summary Introduction

Case summary:

Person R and his brother person J planned to start a business of wholesale building supply.

Term of sale is net 30 and the brothers are expected to 30% of the customers to pay on the 10th day followed by the sale and 50% on the 40th day, and 20% of the customers on 70th day.

Characters in the case:

  • Person R
  • Person J

To discuss: The meaning to set the collection and credit policy for the brothers.

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Discuss, in general, what it means for the brothersto set a credit and collections policy
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Debits and credits explained; Author: The Finance Storyteller;https://www.youtube.com/watch?v=n-lCd3TZA8M;License: Standard Youtube License