Problem Solution: Lawrence Sports Inc.
Essay specific features
September 24, 2013
No of pages / words:
14 / 3847
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Lawrence Sports not only had an established credit policy of its own portrayed by the relationships with its vendors, but Lawrence's major example involving credit policy was the established line of credit at Central Bank. In order to maintain its corporate policy of having accessible minimum cash balance of $50K available, Lawrence had to utilize its line of credit at the bank...
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In order to maintain its corporate policy of having accessible minimum cash balance of $50K available, Lawrence had to utilize its line of credit at the bank. However Central's credit policy stated that Lawrence's established borrowing limit was $1.2 million.
Lawrence heavily relied upon the use of cash during the low peak times of cash conversion which usually occurred in late March...
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