Imagine you own a business that sells to customers on trade credit. For example, you manufacture luxury soaps and you sell these soaps to boutique stores in your hometown area.

Please respond to the following questions in your initial post:

• How would you manage thecollection of receivables?
• Even with careful planning, sometimes receivables become uncollectible. Which method would you use to write off an uncollectible account? Explain your reasons.
• What procedures would you put into place to encourage customersto pay their bills on time?