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 66 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
Thanks for the timely response, appreciate it

bbburns21

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

Did you know?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Some biologically important hydrogen bonds Some biologically important hydrogen bonds
Graphic Card Graphic Card
Important Motor Regions of the Human Brain Important Motor Regions of the Human Brain
Remote sensing and GIS are important tools Remote sensing and GIS are important tools
Specific Nutrients and Behaviors Are Important during the First Trimester Specific Nutrients and Behaviors Are Important during the First Trimester
Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ... Raman has a line of credit loan with the ICICI bank. The initial loan balance was $72000.00. ...
Video: Vascular tissues in a corn stem and a buttercup root

For a complete list of videos, visit our video library