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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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BuyFindarrow_forward

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Financial Analysis of Receivables

A chain of retail stores located in Kansas and Nebraska has requested a loan from the bank at which you work. The balance sheet of the retail chain shows significant accounts receivable related to its in-house credit card. You have been assigned to evaluate these receivables.

Required:

What additional questions would you raise, and what information would you request from the retailer to answer these questions?

To determine

Receivables:

The receivables in the business refer to the amount of money which is due to be received from some other business or customer.

Credit Cards:

The credit cards are the form of factors that collects money instantly in an electronic mode. In-house credit cards are those which a company issues to increase sales on credit.

The additional questions to be raised and the information in response to those questions.

Explanation

In the given case, it is given that there is a chain of retail stores located in Kansas and Nebraska has requested a loan from bank. Before providing such loan, the balance sheet of the retail store is analyzed which shows receivables related to its in-house credit cards.

Now, on the basis of given information, the additional questions and the documents that can be raised are:

  1. The documents of the term...

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