Luke offered to sell his farm to kent at $75,000, an offer which kent declined. a week later, luke offered to sell the farm for $65,000, stating that it was the final offer, it was valid for one month, and that he would not alter it. two days later, kent replied by saying that he was willing to pay $60,000 for the farm. a week after luke received kent's offer, luke declined it. ten days after that, kent agreed to buy the farm for $65,000, but luke refused to sell the farm. kent decided to sue luke for a breach of contract. the judge ruled in favor of luke. which one of the following is the reason for the ruling in luke's favor?
a) luke's original offer of $75,000 is still valid, even though rejected.
b) kent's counteroffer of $60,000 had rendered the offer for $65,000 invalid.
c) kent's acceptance was past the set time period in the offer.
d) kent acted in an incompetent manner with regards to the offer.

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

Concrete consulting co. has the following accounts in its ledger: cash; accounts receivable; supplies; office equipment; accounts payable; jason payne, capital; jason payne, drawing; fees earned; rent expense; advertising expense; utilities expense; miscellaneous expense. transactions oct. 1 paid rent for the month, $3,600. 3 paid advertising expense, $1,200. 5 paid cash for supplies, $750. 6 purchased office equipment on account, $8,000. 10 received cash from customers on account, $14,800. 15 paid creditors on account, $7,110. 27 paid cash for miscellaneous expenses, $400. 30 paid telephone bill (utility expense) for the month, $250. 31 fees earned and billed to customers for the month, $33,100. 31 paid electricity bill (utility expense) for the month, $1,050. 31 withdrew cash for personal use, $2,500. journalize the following selected transactions for october 2019 in a two-column journal. refer to the chart of accounts for exact wording of account titles

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