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Question - Superior Pet Food is a manufacturer and distributor of high-quality dog food to independent pet stores as well as chain stores selling dog food. As an incentive to have these stores push Superior's product they offer a discount that ranges from 1% to 5% of purchases, depending on volume. Superior issues a check 30 days after the end of the calendar quarter for purchases made during the quarter. Patty's Pets had a good second quarter (April, May, June) and will receive a check for 3% of their purchases in July. How does Paty's Pets account for this receipt?
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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