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Accounting, Finance, SPSS
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Topic:
How do Merchandising Companies Encourage Early Payments?
Essay Instructions:
How do Merchandising Companies Encourage Early Payments?
In order to collect accounts receivables (amount customers/clients owe a business) within a short period of time, many businesses offer a discount (i.e., 1/10, n/30; 1 percent discount if paid within 10 days). Do you think this is a good business practice? Why or why not? Besides offering a discount, how can a business collect accounts receivables fast?
Make sure to post YOUR response to the questions in 100-150 words. (10 pts.)
Do NOT repeat questions for word count.
Do NOT Google to copy and paste your response. It MUST be your OWN words.
Do NOT write a sentence or two. You MUST respond with at least 50-75 words
Essay Sample Content Preview:
How do Merchandising Companies Encourage Early Payments?
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How do Merchandising Companies Encourage Early Payments?
Merchandising companies encourage early payments by offering cash discounts, providing alternative payment methods, and putting penalties for late payments. Discounts encourage the customers to hurry up and have a percentage of the amount they were supposed to pay slashed. Having various payment options makes it easier for them to transact. Finally, putting penalties on their contracts for late payments helps encourage customers to clear their debts on time and avoid incurring extra co...
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