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On August 12,a company provides services on account to a customer for $3,000.However,on August 16,the customer is not completely satisfied with the service and the company grants an allowance on the amount owed of $400.On August 20,the customer makes full payment of the balance owed,excluding the allowance.Record the services provided on August 12,the sales allowance on August 16,and the cash collection on August 20.
Conservation
The sustainable management and use of natural resources to prevent depletion or degradation, safeguarding biodiversity and ecosystems.
Scarcer
Describes a condition where resources, goods, or services become less available or in shorter supply than previously.
Price Rises
A situation where the cost of goods or services increases over time due to factors like inflation, increased demand, or higher production costs.
Future Supply
Future supply refers to the quantity of a good or service that will be available in the market at future dates, based on current expectations of production and market conditions.
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