Examlex
The item marked _______ in the accompanying figure is not Tight text wrapping, but it is similar.
Average Collection Period
The average number of days it takes for a business to receive payments owed by its customers for sales made on credit.
Receivables Turnover Ratio
The Receivables Turnover Ratio measures how effectively a company collects its outstanding credit, calculated by dividing net credit sales by the average accounts receivable.
Notes Receivable
Financial assets representing amounts owed to a company, payable within a certain period.
Dishonoured
Pertains to a financial instrument, like a check or promissory note, that is not paid upon presentation due to insufficient funds or any other reason for non-payment.
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