Consider how you develop an incentive and award system, based on an understanding of how incentives and rewards operate. Determine whether or not problems need to be addressed. The following provides information about past year's results ("Monthly Total" refers to the amount owed but not collected in that month).The tlas Corporation offers individual consumers the opportunity to rent or purchase furniture and equipment. Most customers are owned by renters who utilise equipment and equipment. This means that the customer pays a rental cost (that includes a 28 percent rate) for a certain term and becomes the owner of the mechanical equipment at the completion of the contract. tlas has its own loan unit that has a high rate of interest (28 percent).In the years before, the company did not receive payments on time from its customers and profitability plummeted substantially. The profitability effect now means that the tlas Corporation pays its bank a higher rate of interest (8 percent) to cover its own bonds.tlas management would want the accounts receivable department to recover more past debt. The Department of Human Resources has been responsible for developing a strategy to inspire and recompense accountants to boost monthly collections. Every A/R employee is compensated as a non-exempt employee on an hourly basis.Explain why the following questions were answered: Yes or no Yes or NoWhat do you believe should an appropriate monthly aim for tlas be in terms of lowering debt due to the past (real money or % of the overall outstanding amount)?Should it be a single incentive, a team-based or a mixture? If you were responsible for the project, what type of design would you find?Is a monthly, quarterly or yearly incentive/reward preferable?Is it preferable for a public or private audience to present it?What type(s) of incentive/reward(s) should be provided? Who makes the decisions on what and how it is distributed?