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jeka57 [31]
3 years ago
5

Assume the following information for Kingbird Corp. Accounts receivable (beginning balance) $139,000 Allowance for doubtful acco

unts (beginning balance) 11,370 Net credit sales 944,000 Collections 908,000 Write-offs of accounts receivable 5,300 Collections of accounts previously written off 1,800
Business
1 answer:
dezoksy [38]3 years ago
7 0

Answer:

Prepare journal entries of sales, collections, write offs of accounts receivable, and reverse entries:

Date        Account details and explanations      Debit          Credit

                 Accounts receivable                          944,000  

                sales revenue                                                        944,000

                 Allowance for doubtful accounts      5300

                Accounts receivable                                                    5300

                Accounts receivable                            1800

                 Allowance for doubtful accounts                                1800

                cash                                                        1800

                 Accounts receivable                                                    1800

Calculating the ending balance of accounts receivable and unadjusted ending balance of allowance for doubtful accounts:

                  particulars                                                             Amount ($)

                 beginning balance of accounts receivable           139,000

                 Add: Net credit sales                                               944,000

                 less :  Collections                                                     908,000

                 Write-offs                                                                       5,300

                  Add: Reinstated amount                                              1800

                 less:  Collections                                                            1800

                  Ending  balance of accounts receivable                169700

                   particulars                                                             Amount ($)

                 beginning balance of doubtful accounts               11,370

                 less :  Write-offs                                                        5300

                 Add: Reinstated amount                                           1800

                 Ending  balance of unadjusted  balance                 7870

                 allowance of  doubtful accounts

Preparing journal entry to record bad debt

Date    Account details and explanations         Debit          Credit

           Bad debt expense ( 169700*8%) - 7870  12789

               allowance of  doubtful accounts                            12789

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Price level stability necessitates intelligent management or regulation for money supply and interest rates.

Money supply alludes to how much money or cash coursing in an economy. The money supply is the aggregate sum of money present in an economy at a specific level.

The record of the absolute money supply is kept by the Central Bank of the country.

Interest rates is the sum a bank charges a borrower and is a level of the head - the sum credited. The financial cost on a credit it's regularly noted on a yearly premise known as the Annual Percentage Rate (APR).

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<h3>1. Answer:</h3><h2>D. Vendors</h2><h3>Explanation:</h3>

Persuasive business letters are letters written in great detail which describes in length the strategies, practices, and tools required in order to reach a certain goal. These letters are considered official paperwork that represents your personality. Which is why they are sent out to official business partners as well as potential clients/users so as to detail your plan to them. Vendors do not need to know the inner workings and practices which is why they are excluded from the list.



<h3>2. Answer:</h3><h2> C. Convincing readers that the action you propose in easy.</h2><h3>Explanation:</h3>

The AIDA format is a widely used marketing practice that stands for Attention, Interest, Desire, and Action. Of these 4 phases, the action phase entails all the information that the reader needs in order to properly understand the actions needed in order to either make a purchase or at the very least to fully make the intention of making a purchase. Which is why the language used needs to be convincing so as to make the reader as comfortable as possible.


<h3>3. Answer:</h3><h2>A. builds desire by emphasizing how inexpensive the solution is</h2><h3>Explanation:</h3>

The AIDA format is a widely used marketing practice that stands for Attention, Interest, Desire, and Action. Through this letter, the objective is to convince the reader to feel the need, or desire, to make the purchase. Which is why great emphasis is put on the solution itself and how easy it is to implement. This can be done via showing how inexpensive it is, like in this case, or how easily implementable it is through other means. But regardless of the reason, it must emphasize and entice the reader into realizing how much they want the product.

<h3>4. Answer: </h3><h2>A. please return the enclosed coupon by June 15 for your free oil and filter change. </h2><h3>Explanation: </h3>

It is widely believed that the best way to make a concluding statement is to give the reader an incentive to reply, without setting very strict deadlines or conditions. As in the case above, the correct answer choice provides the reader with an incentive to answer by the 15th of June. Unlike the other options which either do not make the incentive clear to the reader or provide no incentive at all, the correct choice is tailored towards that specific reader and makes the message very clear.


<h3>5. Answer: </h3><h2>C. logical, emotional  </h2><h3>Explanation: </h3>

The objective of a persuasive message is to entice and convince the reader. Which is why it is very important to make the reader fully understand the product, realize its need and evaluate its affordability and/or feasibility. The best way to achieve this result is to form a logical argument so that the client fully understands both the need of the product and its uses, as well as, provide an emotional backing to that logical argument stating how much better they'd be through its use. Thereby fully captivating the reader.

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In writing a persuasive message, the structure of the message is very important. Rather than blurting out as much information in a small amount of time, or conversely, giving very little information, the best option is to provide an appropriate amount with proper structure. Which is why things like using positive language, being mindful of one's culture and heritage, and building credibility are important.


<h3>7. Answer: </h3><h2>B. emphasizing how horrible your company's customer service department is </h2><h3>Explanation: </h3>

While writing a persuasive message it is imperative to focus on what you and your company is best at and to play at your strengths. Mentioning the weaknesses and shortcomings of your company will almost always lead to a detrimental effect on the reader. Which is why it is a good practice to provide solutions and workarounds for any issue that may arise, rather than highlighting faults and thereby losing clients.

<h3>8. Answer: </h3><h2>D. By as many types and as much information as possible </h2><h3>Explanation: </h3>

The purpose of marketing and sales letters is to provide the reader with any and every way that the product can be used to solve a problem, and how it can be put to use. For this purpose, the reader needs to know all the types of products and all relevant information so they can make the decision of whether it helps them with their problems or not.

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This one is pretty self-explanatory. AIDA is a marketing model that is used to detail all the steps involved in the decision-making process of the consumer. It starts from where the consumer first hears of it (Attention), to the specific steps required in order to help the consumer make the decision of buying the product (Action). This is one of the longest and most widely used models in marketing.


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