Assignment:
Q1. Is it true that if a firm calculates its days sales outstanding, it has no need for an aging schedule?
Q2. Firm A had no credit losses last year, but 1 percent of Firm B’s accounts receivable proved to be uncollectible and resulted in losses. Should Firm B fire its credit manager and hire A’s?
Provide complete and step by step solution for the question and show calculations and use formulas.