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Cash sales are on average greater than credit sales as businesses give the customer incentive, such as a discount, to pay cash. This is because the business has physically received the money, which they may now use; to invest or buy inventory with. Additionally, credit sales have a degree of unreliability; the customer may not have any prospects and may never pay the money back, which is sometimes the reality.
What else can I help you with?
Can a company charge more for credit card sales than for cash sales?
That's exactly what they are doing and getting away with it.
Do Merchant agreements allow retail sales to charge more for credit card payment than cash?
Absolutely not. Anyone offering to charge more than the ordinary price for accepting a credit card should be reported to the credit company immediately. On the other hand, offering a "cash discount" is not considered the same thing, as it is no longer the "ordinary price", and it is the merchant who pays the difference (in lost profit).
What is the cash advance APR for this credit card?
The cash advance APR for this credit card is the interest rate charged when you borrow cash using your credit card, typically higher than the regular purchase APR.
What is the definition of a cash advance on a credit card?
A cash advance is when you borrow cash against your credit card. When you borrow cash you will usually pay a much higher interest rate than you would for purchases.
What is the difference between a cash advance limit and a credit limit on a credit card?
A cash advance limit is the maximum amount of cash you can withdraw from your credit card, typically lower than the credit limit. The credit limit is the total amount you can spend on purchases using the card.
Can a company charge more for credit card sales than for cash sales?
That's exactly what they are doing and getting away with it.
How Much Daily Credit Card Sales Does Lender Take Away When Getting Cash Advance?
Deductions are made primarily based on a fixed percentage of your daily Visa and MasterCard sales. The percentage is fixed, however the amount of the payment is not. The amount paid to business cash advance lender will rise and fall along with your daily card sales, giving your company greater flexibility than a traditional loan.
Cash Reiepts from customers are greater than sales revenues when what happens?
That means that there were larger purchases on credit for that period, there would be a corresponding increase in assets or expenses. Or, it could mean that oustanding payables from the previous period were not paid and are now overdue. It also means that the company has increased cash flow requirements for the following period.
What is the maximum one can borrow from fast cash loans?
The maximum depends on your credit history. If you are one that is in bankrupt or has a bad history, the time will be short. If you have a perfect credit score than the time will be greater.
What happens when actual sales are greater than forecasted sales?
inventory will decline.
What is cash discount?
A discount given to the buyer if he/she pays in cash rather than credit
What is the cash advance APR for this credit card?
The cash advance APR for this credit card is the interest rate charged when you borrow cash using your credit card, typically higher than the regular purchase APR.
Do Merchant agreements allow retail sales to charge more for credit card payment than cash?
Absolutely not. Anyone offering to charge more than the ordinary price for accepting a credit card should be reported to the credit company immediately. On the other hand, offering a "cash discount" is not considered the same thing, as it is no longer the "ordinary price", and it is the merchant who pays the difference (in lost profit).
What is the definition of a cash advance on a credit card?
A cash advance is when you borrow cash against your credit card. When you borrow cash you will usually pay a much higher interest rate than you would for purchases.
What is the difference between a cash advance limit and a credit limit on a credit card?
A cash advance limit is the maximum amount of cash you can withdraw from your credit card, typically lower than the credit limit. The credit limit is the total amount you can spend on purchases using the card.
How is a cash advance on a credit card obtained?
Cash advance on a credit card is obtained by using the credit card in an ATM machine and taking more than the balance of your account. Then one goes into cash advance state, where one gets cash in advance.
Is inventory write off a non cash expense?
It is non cash since you credit the inventory account rather than cash.
