When a customer is delinquent on paying a notes receivable, your company has the option to continue to attempt collection or sell the debt to a collection agency. Research the benefits and challenges with each of these options and in a short essay, answer the following questions.
A. What are the benefits and challenges of continuing to attempt collection yourself?
B. What are the benefits and challenges of selling debt to a collection agency?
C. If you had a dishonored notes receivable, which option would you select and why?
D. Would you weight certain benefits or challenges differently when making your selection? How?