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Reuben, the market gardener had a reputation for growing the biggest potatoes in the district. Barb, a gourmet cook, pre-ordered 7 kilograms of potatoes at the market garden. Reuben said that he would weigh and package them and that Barb could return and pick them up when she had completed her shopping. She paid Reuben the $15 price before she left. While she was shopping, a truck, owned by Norbert, backed into Reuben's market garden stall, destroying 100% of his vegetables. Who owns the potatoes?
Past-due Account
An account that has not been paid by the due date, indicating overdue payments.
Receivable
Amounts of money owed to a company by customers or clients for goods or services delivered but not yet paid for.
Average Collection Period
The average collection period is the average number of days it takes for a business to receive payments owed by its customers for sales made on credit.
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