Primary Incorporated (PI) sells merchandise across North America. PI is a growing company and has doubled its customer base over the past few years, owing largely to its generous and flexible credit policies. PI offers early payment discounts at various rates but will also provide extended payment terms to its customers. Currently, PI maintains records on receivables, credit terms, and customer information on various spreadsheets, and customer file notes in an unorganized manner; not all information is tracked.

Required:

The IT department is currently updating the customer database on the company’s computer system. Suggest the appropriate information that should be tracked in each customer’s account.