In these economically unstable times, companies are increasingly experiencing problems with customers who make payments to them and then file bankruptcy. If a customer pays your company and then files a bankruptcy petition within 90 days of making the payment, the customer’s bankruptcy trustee may demand that you return the payment to him. A payment made by a debtor within 90 days before he files bankruptcy is called a preference.
February 23, 2009 Elizabeth Weber
Unless your company operates on a strictly cash basis, you have accounts receivable. What most companies do not understand is