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I WANT FULL ANSWERS... You are the controller for a medium size company in the Seattle area. Your company's sales last year were $10,000,000. The

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I WANT FULL ANSWERS... You are the controller for a medium size company in the Seattle area. Your company's sales last year were $10,000,000. The Accounts Receivable balance was $2,000,000 at year-end. This year sales are expected to be down by $1,000,000 as a result of an economic downturn. It is reported that some of your customers are experiencing cash flow problems due to the downturn. Requirement one (1) 1. Answer and discuss these questions: Identify and describe potential accounts receivable problems that your company may encounter because of the economic downturn. Identify and describe steps that your company could take to avoid these future problems. o Identify opportunities that your company may have in view of the downturn. Describe the affects that any steps you take would have on sales and net profit

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