Assignment DescriptionYou will pretend you are a part-time employee at a business related to your major and write a properly formatted professional memo to your boss explaining the need for accounting to properly run the business.Requirements for submission:For this writing assignment you should include the following in the memo:(1) Proper Heading See heading information below [To, From, Date, Subject](2) Paragraph 1- A statement that you are a college student, your major, that you are taking an accounting class, and you want to share some things youve learned to help in the business.(3) Paragraph 2- Describe your understanding of how this business earns revenue (what services does it provide or what products are sold, and who are the customers)(4) Paragraph 3- Explain how the video Planet Popcorn and this AC 161 Accounting course helped you understand the need for accounting to properly run this business related to your major. (5) Paragraph 4- In the body of your memo it would be useful for you to:(a). Identify at least two (2) potential business problems that could occur in this type of business (think of the business problems in Planet Popcorn that could arise in the business related to your major)***(b)Suggest appropriate solutions to the problems using information you learned from reading over Chapter 7 Internal Control and Cash.***Use a professional memo format. See the information below about writing a memo. (6) Instructions: Document Submission Text Format and Instructions for Upload to the Drop boxes: (a) Your memo document submission should be a typed, double-spaced 12" font starting off with the proper heading format (see below).(b) The memo must be a basic Microsoft Word document (no google docs, etc. )(c ) The memo submission should be at least 1 to 2 pages in length. Any information research that you use for the assignment should have the proper citation. (d) The Safe Assign similarity percentage should not be more than 30%.-Use the Draft Writing Assignment Drop Box provided to check that you have an acceptable likeness %(use your 3 attempts if necessary to check your similarity % to make sure it is less than the maximum allowed at 30%). The draft drop box will not be graded and submissions to this drop box will not be entered into the database. Do not copy the question and make it a part of your submission.-Once you determine that you have an acceptable similarity percentage (<30%), then upload the final version of your paper to the Final Writing Assignment Drop Box by the due date.Guide for Planet Popcorn Writing Assignment:What is a memo?A memo, short for memorandum, is a way to inform a group of people about a specific problem, solution, or event. A memo should be brief, straightforward, and easy to read. It informs recipients and provides an action plan with specific next steps. You may send a memo as a paper letter, fax, or PDF attached to an email. Although the widespread use of email essentially replaced memos in many circumstances, memos are still helpful for some important messages. What is the purpose of a memo?Memos are designed for official internal communications of a business or organization. They are often sent to an entire organization but are also useful for informing a single department, team, or smaller group of people. Memos disperse necessary information using a simple, easy-to-follow format.How to format a memoIf you are sending a memo via email, it should be formatted as a PDF. This retains the style youve applied to the document. Traditionally memos use twelve-point font for the body and fourteen- to sixteen-point font for the headings. Keep the font and design simple. A memo should include the following.HeadingTo FromDateSubjectOpening statementContextCall to action and task statementDiscussionClosingMemos should always be professional and politeregardless of the topic youre introducing. Stay focused on the facts and actionable plans. You should not use emoji in business memos. Keep it brief, direct, and clear and include only necessary information. ***1. Heading: The heading lists who is receiving the memo, who is sending the memo, the date the memo was written, and the subject of the memo. You can view how to format this section below. To: [Recipients full names and job titles or department]From: [Your full name and job title]Date: [Todays date]Subject: [What the memo is about]Since you addressed the recipients in the heading, theres no need to include a greeting. *2. Opening statement This section can be between one and three sentences. The opening statement is where you briefly state the purpose of your memo. Include only a summary of the most crucial information in this section. Later youll be able to get into the details. Try starting with, Im writing to inform you ...*3. ContextIn three to ten sentences, provide context. Context is where you let people know what youre writing about, why youre writing them, and any other critical information. This section may include the following: supporting evidencewhy you or your organization made the decisionany relevant background informationother key points*4. Call to action and task statement: Write about what the recipient should do after they read the memo or how you plan to achieve the goal(s) youve described. Try adding due dates for completion of each task or step listed and if needed lines like I appreciate your cooperation in this matter.