At year-end (December 31), Chan Company estimates its bad debts as 0.70% of its annual credit sales of $615,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $308 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off.1. Record the estimated bad debts expense.
2. Record the entry to write off P. Park's account as uncollectible.
3. Record the reinstatement of Park's previously written off account.4. Record the cash received on account.

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?