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Financial & Managerial Accounting
Found in: Page 342
Financial & Managerial Accounting

Financial & Managerial Accounting

Book edition 7th
Author(s) John J Wild, Ken W. Shaw, Barbara Chiappetta
Pages 1096 pages
ISBN 9781259726705

Short Answer

How do sellers benefit from allowing their customers to use credit cards?

Sellers are individuals or groups whose primary responsibility is to sell a company’s product to an end customer or user in the market.

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Step by Step Solution

Step-by-Step SolutionStep 1: Introduction

A credit card is considered the most helpful way of making payments when its holder does not have the cash to satisfy their needs. Banks often grant this service.

Step 2: Benefits to a seller

(1) The selling companies can avoid evaluating the total credit standing from their customers when a purchase is made using a credit card.

(2) The percentage of the risks of bad debts is minimized.

(3) It increases the total percentage of sales by allowing various payment methods to the customers.

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