The May 31 balance per bank statement was $12,400. The unadjusted book balance was $17,000. Outstanding checks amounted to $1,700, and deposits in transit were $4,800. The bank statement contained an NSF check for $1,100, a service charge for $50, and a debit memo for direct payment of the telephone bill of $350 (which has not yet been recorded by the company).Required:a) Determine the true cash balance by preparing a bank reconciliation as of May 31.b) Record in general journal form any necessary entries to the Cash account to adjust it to the true cash balance.
What will be an ideal response?
a) 
b)
| Accounts receivable | 1,100 | ? |
| Cash | ? | 1,100 |
| Bank service charge expense | 50 | ? |
| Cash | ? | 50 |
| Telephone expense | 350 | ? |
| Cash | ? | 350 |
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A sales team from Goodway Inc. enters negotiations with a large poultry processing company. Its objective is to sell the company 40 pressure washers with a 5 percent quantity discount and a share of all shipping costs. But, it will walk away from the negotiation table satisfied if it can convince the company to buy 20 washers with a 2 percent discount. What other type of objective does it need to develop?
What will be an ideal response?
In which of the following situations is a business most likely to opt for a direct rather than an indirect marketing channel system for product distribution?
A) The business manufactures products for the consumer market rather than the business market. B) The business's products are sold in wide markets, and require localized availability of parts and services. C) The business is new to the market and does not have a network of contacts in place for distribution. D) The business wants to maintain complete control over its marketing messages and collection of payments for products. E) The business manufactures a product that people buy on impulse and is generally sold in small quantities.
Which statement is not true about research design?
A) Research design is a framework for conducting the marketing research project. B) Research design specifies the measurement and scaling procedures. C) Research design is undertaken before developing the approach to the problem. D) Research design is undertaken after the marketing research problem is defined.
Your work area, like your personal appearance, says a lot about you
Indicate whether the statement is true or false