Journalize the entry for Hot Rod Service using the following data from the payroll register: Regular earnings $16,370 Overtime earnings 903 Federal income tax withheld 2,268 Social Security tax withheld 827 Medicare tax withheld 194 Pension contribution from employees 711 Health insurance premiums 807 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.