1)Credit granted by one firm to another firm is called:

2)Sussex Inc., a large fertilizer distributor based in Nova Scotia, is planning to use a lockbox system to speed up collections from its customers located on the West Coast.. A Vancouver-area bank will provide this service for an annual fee of $15,000 paid at the end of the year plus 10 cents per transaction. The estimated reduction in collection and processing time is one day. Treasury bills are currently yielding 5 percent per year and there are 365 days per year. If the average customer payment in this region is $5,200, how many customers each day, on average, are needed to make the system profitable for Sussex? Do not round your intermediate calculations