Which of the following is a correct statement regarding methods to speed up the collection of cash from receivables?

Select one:

a.Factoring is used frequently by companies since it is a great way to raise cash.

b.The company that factors its receivables maintains control over the collection process.

c.Credit card companies will charge a fee of 20-30% of the total amount of the sale.

d.Credit Card Fee is reported on the income statement