For this discussion, the focus will be on accounts receivable. Imagine you are the owner of any business. Kindly explain the following: What is the business that you have chosen? 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