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On December 6, 2019, Grocery Wholesalers purchased $2,310 worth of dried fruit inventory plus $180 for freight charges on account. On December 15, Grocery Wholesalers sold all of the dried fruit inventory to Retail Grocers for $4,930 on account. As the bookkeeper for Grocery Wholesalers, journalize the transactions using the perpetual inventory system.
Problem 1: Prepare the journal entries for Grocery Wholesalers on December 6 and 15 respectively. Record the sales transaction before the cost transaction.
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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