On may 27, hydro clothing inc. reacquired 75,000 shares of its common stock at $8 per share. on august 3, hydro clothing sold 54,000 of the reacquired shares at $11 per share. on november 14, hydro clothing sold the remaining shares at $7 per share. journalize the transactions of may 27, august 3, and november 14. for a compound transaction, if an amount box does not require an entry, leave it blank.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.