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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 737 |
Essay's paper body
When LSI was hit by two financial challenges they had to request quicker collections from a vendor and delayed payment from the suppliers to balance the cash flow within their system.
A collection policy and terms of sale come hand in hand. A term of sale is how and when the payment for a transaction is expected and if a discount is offered for prompt payment...
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A term of sale is how and when the payment for a transaction is expected and if a discount is offered for prompt payment. This is the terms or conditions of the sale. A collection policy is what to do when the terms of the sale are defaulted. In LSI case what is the action that needs to be taken by Mayo in order to make amends for the default n payment...
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