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If A customer calls in to cancel her account claiming she has received a lower price from a competitor what would you do?
I would first express understanding and empathy towards the customer’s situation, acknowledging her concern about pricing. Then, I would ask for details about the competitor's offer to see if we can match or provide a better deal. If we have the flexibility, I would present any available promotions or options that might retain her as a customer. If not, I would process the cancellation while ensuring she feels valued and appreciated for her time with us.
What else can I help you with?
What happens when cash is received in payment of an account?
Received cash from a customer as payment on account
What accounts affected in received payment on account?
"what accounts are affected and how when a payment on account is received from a customer
What account is credited when a payment is received from a customer?
Accounts receivable
Is receiving payment from account customer a liability?
Because money is being received from customer we are not owing.
A customer's check received in settlement of an account receivable is considered cash?
A check received from customer will be credited to his account , hence his earlier debit balance will be reduced . simultaniously it will be debited to bank account , hence bank balance will be increased
What is 3C Model for price Setting?
The 3 C's model for setting pricestakes into account the customer, our costs, and the competition. Customer's perception about the various attributes of the products, competitor's pricing and our own total costs.
A customer's check received in settlement of an account receivable is considered cash True or false?
true
When a check is received to pay customers account if full check received is recorded?
When a check is received to pay a customer's account in full, the total amount of the check should be recorded as a debit to the cash account and a credit to the accounts receivable account. This reflects the increase in cash and the reduction in the outstanding balance owed by the customer. It's important to ensure that the transaction is accurately documented in the accounting records to maintain proper financial tracking.
When a check is received for the full payment of an AR account which of the following steps do you need to take?
Make sure that the customer account is credited and that cash is debited.
A cash payment received from a customer for a product purchased on account would be recorded as?
A cash payment received from a customer for a product purchased on account would be recorded as a debit to cash and a credit to accounts receivable. This entry reflects the increase in cash and the decrease in the amount owed by the customer. It effectively clears the accounts receivable balance related to that specific sale.
How is a cash payment received from a customer for a product purchased on account recorded?
debit to cash and credit to accounts receivable
How is recorded a cash payment received from a customer for a product purchased on account?
debit to cash and credit to accounts receivable
