Answer: "fixed cost" .
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(such as "monthly rent" in an apartment lease).
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Give buyers a goal of ordering each season 's merchandise by a particular date, then give them daily feedback about what percentage of the upcoming season 's merchandise has been ordered.
<u>Explanation</u>:
When customers do not find what they are looking for at the store, they usually don't return to the store. They just go to some other store and its highly unlikely that they would further suggest the store to anyone.
Thus, to ensure that the store doesn't lose customers because of this reason, the store should encourage their employees to be aware of the latest development in the field and place orders for the same on a regular, preferably weekly, basis.
This way the likelihood of customers not getting what they require from the store becomes very bleak.
Therefore, Give buyers a goal of ordering each season 's merchandise by a particular date, then give them daily feedback about what percentage of the upcoming season 's merchandise has been ordered.
B.Making change <span>is a cash transaction</span>
Answer:
September 11 2017
Dr Cash 600
Cr Sales revenue 600
(to record sales revenue on cash)
Dr Cost of good sold 370
Cr Inventory 370
(to record cost of good sold)
Dr Warranty expenses 54
Cr Warranty liabilities 54
(to accrue for warranty liabilities)
Jul 24 2018
Dr Warranty liabilities 42
Cr Inventory 42
(to record warranty services provided which was accrued)
Explanation:
11 Sep 2017:
- As sell of $600 is made on cash with the cost of good sold is $370, we Dr Cash 600 and Dr Cost of good sold 370 to record increase in cash and in Cost of good sold; and Cr Sales 600 and Cr Inventory 370 to record increase in sales and decrease in Inventory delivered.
- Warranty expenses should be recorded at the time to ensure matching of cost and revenue. Warranty expenses is estimated at 9% of sales, so it will be 9% x 600 = $54. Expenses is recorded and liabilities is accrued.
Jul 24 2018:
Warranty liabilities which was accrued actually occurs. So we Dr Liability by the expenses actually incurred and Cr Inventory consumed for the warranty services $42.
