From the question we are informed about Gershwin Wallcovering Inc. shipped the wrong shade of paint to a customer. The customer agreed to keep the paint upon being offered a 15% price reduction. In this case, The price reduction is an example of a Sales allowance.
Sales allowance can be regarded as a reduction in the price that was charged by a seller, this reduction usually occur due to a problem with the product or service that is been sold. The problem could be incorrect price as well as quality problem or short shipment.
1: Is this really an emergency? 2: Is this important? 3: Is this needed? 4: Do I have enough money to spend this? 5: Will I be able to replenish this money?
Because of greed and mismangement and the sitting of presidents who did not renew legistlation is why the first and second banks of the united states failed