Question
Yale Express, a short-haul trucking firm, turned over much of its cargo to local truckers to complete deliveries and waited 20 days to receive the
Yale Express, a short-haul trucking firm, turned over much of its cargo to local truckers to complete deliveries and waited 20 days to receive the local truckers bills. However, Republic Carloading, a nationwide, long-distance freight forwarder whom Yale merged with, frequently did not receive bills from truckers until months after the year-end.
Describe what might Yale Express have done to produce more accurate financial statements without waiting months for Republics outstanding transportation bills? Keep in mind what you we you know about ajusting entries.
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