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Question - XYZ recorded the following transactions during the first week of the year:
1. Bought $ 7,100 of inventory on credit.
2. She paid the week's wages of $ 920.
3. Sales recorded for the first week: in cash: $ 8,200, and on credit: $ 6,200.
4. You paid half of the inventory purchased in event (1).
5. Received a customer order for inventory with a cost of $ 5,300 and a sale price of $ 7,000. The order has not been shipped to the customer.
Prepare the journal entries for each transaction. If input is not required, write "No input"
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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