"30" is the answer you're looking for.
Answer:
a. Journal entries to record the reinstatement of the account receivable
Account Title and Description Debit Credit
Account receivable account $600
Allowance for Doubtful Accounts account $600
(Reinstatement of the account receivable)
b. Journal entries to record the receipt of cash
Account Title and Description Debit Credit
Bank Account $600
Account receivable account $600
(Receipt of cash)
Answer:
Business economics often handles the analysis of various costs that business firms incur. Every business always desires to minimize their costs and maximize its profits by embracing different economies of scale. Nonetheless, the firms fail to determine exact costs that are involved in the production process.
planning is an essential part of managing an enterprise. "Strategic" plan is developed as a guide during the planning process for major policy setting and decision making.
What is Strategic plan?
Business executives use the process of strategic planning to determine the aims and objectives of their organisation as well as their long-term vision. Establishing the order in which these objectives should be accomplished can help the organisation achieve its stated vision. Although it can run longer, strategic planning frequently addresses objectives with a life cycle of three to five years. A business plan may cover a time frame of several years to several months.
Why is strategic planning important?
For firms, organisational direction and goals are crucial. Strategic planning offers that kind of guidance. A strategic plan essentially serves as a roadmap for accomplishing organisational goals. It is impossible to tell if a company is on track to achieve its goals without such guidance.
The following four factors should be taken into account when creating a strategy.
1) The mission
2) The goals
3) Alignment with short-term goals.
4) Evaluation and revision.
What are the steps in the strategic planning process?
Depending on the sort of business and the level of granularity necessary, there are a plethora of different approaches to strategic planning. These five steps can be used to outline most strategic planning cycles:
1) Identify
2) Prioritize
3) Develop
4) Implement
5) Update
To learn more about Strategic planning
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<span>Senior management is responsible for generating the high level project roadmap for the organization. This roadmap should include the voice of the customer and the voice of the field in order to prioritize features and functionality that best serve those interests in the market. This roadmap should include specific shortterm goals as well as longterm directions.</span>
