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Surf City sells its network browsing software for $19 per copy to computer software distributors and allows its customers 1 month to pay their bills. The cost of the software is $11 per copy. The industry is very new and unsettled, however, and the probability that a new customer granted credit will go bankrupt within the next month is 34%. The firm is considering switching to a cash-on-delivery credit policy to reduce its exposure to defaults on trade credit. The discount rate is 3% per month.
Problem 1: Should the firm switch to a cash-on-delivery policy? If it does so, its sales will fall by 40%.
Problem 2: How would your answer change if a customer that is granted credit pays its bills, and is expected to generate repeat orders with negligible likelihood of default for each of the next 6 months? Similarly, customers that pay cash also will generate on average 6 months of repeat sales.
Sanborn Company has 10 employees, who earn a total of $2,200 in salaries each working day. They are paid on Monday for the five-day workweek ending on the previous Friday. Assume that year ended December 31, is a Wednesday and all employees will be p..
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