In the journal provided, prepare journal entries (in good form) for the following transactions. If no entry is required, write "no entry." Omit explanations.
Definitions:
Price Elasticity
A gauge for assessing how changes in price affect the supply or demand volumes of a product.
Demand Curve
A visual chart that illustrates the connection between a product's price and how much of it consumers want to buy.
Price Cut
A reduction in the selling price of goods or services, often to attract more customers or boost sales.
Consumers Spend
The total amount of money expended by consumers on goods and services within a specific time period.
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