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Lennie Is a Salesperson with Eddy's Laboratories

question 18

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Lennie is a salesperson with Eddy's Laboratories.Lennie's sales manager expects him to make at least five sales calls per day and meet at least five customers per week.Identify the type of quota assigned to Lennie by his sales manager.


Definitions:

Unearned Revenues

Funds paid to a business for products or services that are to be supplied or carried out in the future.

Adjusting Entry

An accounting entry made in the books at the end of an accounting period to allocate income and expenditure to the correct period.

Accrued Revenue

Revenue that has been earned through sales or services provided but not yet received by the company.

Adjusting Entry

A journal entry made at the end of an accounting period to record unrecorded income or expenses to ensure that the financial statements comply with the accrual basis of accounting.

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