refer to Chapter 8 Accounting Principles Book one to complete the following Task 10-12 Company Credit Policy Snappy Pictures Ltd sell printing canvas. The company is owned and managed by the owner Andy Lim. Standard credit terms are 30 days. At the end of the month an aged receivables report is printed, and overdue accounts are reviewed. Monthly statement is issued at the end of the month. The following company debt recovery process and collection policy for Accounts Receivable: 0 - 30 days (current) Invoice sent to customer with monthly statement 31 - 60 days (overdue account) Sent overdue sticker to next statement 61 - 90 days (overdue account) Phone call to customer informing them that if payment is not made no further credit will be given and credit facility will be put on hold 91 + days (overdue account) If customer's debt is more than $50 a letter advising customer that their account will be handed to Collections Agency unless payment is received within 14 days Customer Delinquency A debt that is 90 + days overdue and less than $150 will be written off as a bad debt. A Debtor's account is deemed delinquent when it has been outstanding for longer than 12 months and all attempts to recoup the outstanding amount have been exhausted, the account will be written off as a bad debt as per the terms set in the organisational credit policy for Snappy Pictures Pty Ltd. Accounts Receivable report for Snappy Pictures Ltd as of 30 June 2020 Customer Invoice Date Total amount 0-30 Days 31-60 Days 61-90 Days 91+ Days Max Gibson 29/05/20 $ 220.00 $ 220.00 Sam Murphy 15/04/20 $ 880.00 $ 880.00 Erica Baxter 20/03/20 $ 330.00 $ 330.00 Grand Total $ 1,430.00 $ 0.00 $ 220.00 $ 880.00 $ 330.00 Task 10 Using the information from Snappy Pictures' Credit Policy and Aged Receivables report as of 30 June 2020 above, provide your answer below on days overdue invoice, amount owing and the previous communication that has been actioned. Overdue Accounts Review - Snappy Pictures Customer Invoice Age Amount Owing Previous Communications Max Gibson Sam Murphy Erica Baxter Task 11 Based on the organizational credit policy, what collection procedures would you take regarding the collection of monies as of 30 June 2020? It is recommended to follow the company credit policy for collecting procedures for the below debtors: Customer Collection Procedures Max Gibson Sam Murphy . Erica Baxter