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During 2019. CCI introduced a new program called No Late Fees. Under the program. customers do not pay late fees for costumes that are not
During 2019. CCI introduced a new program called No Late Fees. Under the program. customers do not pay late fees for costumes that are not returned on time. If a costume is not returned within 30 days, CCI considers the costume to be sold to the customer who rented it and the customer is charged $300. which is the cost of a new costume. The customer then has the right to keep the costume. The program has been \"tremendously successful." according to \"victor, as it has increased revenue from the sale of costumes. since many customers fail to return their rentals within 30 days. v'ictor conceded that the program has upset some customers who believed that CCI had truly eliminated all forms of late fees. lvlost customers who have been charged for a costume that they have not returned within 30 days have refused to pay the charge and have simply returned the costume to a CCI store. Other customers have refused to pay the charge and have yet to return the costume. The accounts receivable on the balance sheet relates entirely to this program
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