This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Why are credit card sales important to businesses? What will be an ideal ... (Read 68 times)

tfester

  • Hero Member
  • *****
  • Posts: 534
on: Jul 5, 2018
Why are credit card sales important to businesses?
 
  What will be an ideal response?

Question 2

The cash account in the company's ledger is a(n)
 a. asset with a normal debit balance
  b. asset with a normal credit balance
  c. liability with a normal debit balance
  d. liability with a normal credit balance


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

pallen55

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jul 5, 2018
Answer to Question 1

Credit card sales in which businesses accept credit cards, such as MasterCard and VISA, can be a valuable part of the business process. In accepting such credit cards, businesses are transferring the risk of uncollectible accounts to the financial institutions that issue the cards. In addition, businesses don't have to run credit checks, manage accounts receivable collections, and go after customers who are slow in paying accounts. Businesses have to pay credit card service fees. However, the benefits mentioned above far outweigh the cost of the fees.

Answer to Question 2

a


tfester

  • Member
  • Posts: 534
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

  • Member
  • Posts:
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Graphic Card Graphic Card
Memory card Memory card
Adrian Piper, My Calling (Card) #2 (for Bars and Discos). Adrian Piper, My Calling (Card) #2 (for Bars and Discos).
The Wisconsin Card Sorting Test. This woman is just starting the test. If she places the first card ... The Wisconsin Card Sorting Test. This woman is just starting the test. If she places the first card ...
Hydrolysis reactions for some biochemically important phosphate compounds (part 1) Hydrolysis reactions for some biochemically important phosphate compounds (part 1)
Climate change is an important vector for human diseases Climate change is an important vector for human diseases
Video: Oxygen - hemoglobin dissociation curve & Hemoglobin's affinity with oxygen - acidity

For a complete list of videos, visit our video library