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Please pretend for a moment that you are the accounts receivable manager for JBX Industries, a local manufacturing company. JBX has the following issues as
Please pretend for a moment that you are the accounts receivable manager for JBX Industries, a local manufacturing company. JBX has the following issues as of 12/31/2017:
1. It is sitting on nearly $1 million in accounts receivable. 2. However, almost $100,000 of that amount is expected to be uncollectible. 3. JBX needs this cash to purchase additional raw materials for its future sales.
What are some ways you could collect on these receivables? What kind of credit policies would you put in place to ensure you only took on the best clients?
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