Word: payment
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Dates: during 1940-1940
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Furthermore, implement sales are on a long time-payment basis and large amounts of capital are tied up in accounts receivable. Big fellows like International Harvester and John Deere (No. 2 manufacturer) have plenty of capital to tie up in reserves for doubtful notes and accounts. But a company like Minneapolis-Moline has to borrow-a pick-up in its sales from August to October sent the total of its bank loans from $900,000 to $1,500,000. In its year-end statement it had set up a reserve of $927,668 for doubtful notes and accounts...