The bank manager's first question is regarding revenue and your process for handling accounts receivables and uncollectible accounts. The bank knows that it is common in your line of business to collect deposits up front for an event but that some events are cancelled or the event is held as planned, but payment is not received in full.

In a 1-2 page memo, address the concerns of the bank manager. Be specific regarding the types of methods that are available for accounting for receivables such as those covered in Chapter 9. Discuss potential ways you could encourage timely payment and/or what your credit terms will be. Give examples where appropriate. Be sure to follow APA format and include in-text citations as well as a reference page following your memo.