For this discussion, the focus will be on accounts receivable. Imagine you are the owner of any business of your choice. For your initial post explain the following:
What is the business that you have chosen?(Coffee shop) Why did you choose this type of business?
What products or services will your firm sell?
Would you extend trade credit to your customers? (Do not discuss credit card payments, but rather, direct credit to your customers.) Why or why not?
How will this decision affect your sales and profits?
If you choose to extend credit, how would you ensure that your firm is paid by its customers?
How would you account for customers who fail to pay their debt to your business?