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Assume that Adria Lopez expands Success Systems accounting system to include special journals.
Required:
1. Locate the transactions related to January through March 2014 for Success Systems in Chapter 5.
2. Enter the Success Systems transactions for January through March in a sales journal like that in Exhibit 7.5 (insert in the Invoice column), a cash receipts journal like that in Exhibit 7.7, a purchases journal like that in Exhibit 7.9 (use Computer Supplies heading instead of Office Supplies), and a cash disbursements journal like that in Exhibit 7.11 ( insert in the Check Number column), or a general journal. Number journal pages as page 2. If the transaction does not specify the name of the payee, state not specified in the Payee column of the cash disbursements journal.
3. The transactions on the following dates should be journalized in the general journal: January 5, 11, 20, 24, and 29 (no entry required) and March 24. Do not record and post the adjusting entries for the end of March.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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