General Mills sold three
sizes of cereal cheerios at $2.99, $3.99, and $4.49 each. Selling
tactic used by the company is psychology pricing. General Mills used this
technique to
encourage customers to respond on emotional levels rather than logical ones.
<span>Setting
the price of the cereal at $2.99 is proven to attract more consumers than setting
it at $3.00, even though the difference is only $.01. Consumers are said to put
more attention on the first number on a price tag than the last. </span>
Explanation:
The journal entry are as follows
On April 20
Sales returns A/c Dr $3,000
To Account receivable A/c $3,000
(Being the sales returned of goods is recorded)
While recording this given transaction, we debited the sales return account and credited the account receivable account so that the proper posting could be done
Your answer to this question is increased by $1000
Answer: $610 million
Explanation:
M1 includes currency in circulation, checkable bank deposits and traveler's checks.
M1 = $100 million + $500 million + $10 million = $610 million
Savings deposits is part of M2
Answer:
$21.50
Explanation:
The net income is difference between the revenue and the operating expense incurred by the entity.
The unit cost per service is obtained by dividing the operating cost by the number of services provided.
Given that;
Operating expense = $21,500
Number of services provided = 10,000
The unit cost per service
= $21,500/10,000
= $21.50 (to the nearest cent)