Which one of the following is the normal order of events when a ﬁrm is collecting an account receivable from a customer?

Question

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The normal order of events when a firm is collecting an account receivable from a customer is to first send a delinquency letter to the customer, followed by a phone call to attempt to resolve the issue, then hiring a collection agency if necessary, and finally taking legal action as a last resort. Therefore, the correct order is delinquency letter, phone call, collection agency, and legal action. Choice E is the only option that follows this order.

Which One of the Following Is the Normal Order of Events