Willow's small floral shop specializes in weddings. Though she knows her competitors allow customers to buy on credit, she is concerned about the risk and expense of unpaid customer accounts. One strategy to reduce risk and collect sales revenue more quickly would be to accept bank-issued credit cards.

Question

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Not only are credit cards a convenient means of payment for many customers, the banks that issue the cards have already established the creditworthiness of the cardholders. Moreover, accepting credit cards is a good way for firms to cut the time and expense involved in collecting accounts receivable. Firms believe the benefits outweigh the credit card company fees.

Willow's Small Floral Shop Specializes in Weddings