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Ronald Staik inherited family business from his father, who has now retired. Ronald was careful not to extend undue risk and only accepted products of

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Ronald Staik inherited family business from his father, who has now retired. Ronald was careful not to extend undue risk and only accepted products of highest quality for distribution. While bills were paid in time, normal credit was extended to customers and retailers who were well known. Regardless, the coliection terms had formulated with a pattern as follows: Sale Bad debts

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