Gomez Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the purchases journal. July 1 Purchased $23,500 of merchandise on credit from Hector Co., terms n/15. 4 Sold merchandise costing $1,220 to C. Paul for $1,330 cash. 8 Purchased $780 of office supplies from Zhang Co. on credit, terms n/30. 15 Paid Hector $23,500 cash for the merchandise purchased on July 1. 21 Purchased $1,155 of store supplies on credit from Staples, terms n/30. 22 Sold merchandise costing $2,900 to MicroTran for $3,400 on credit, terms n/30. 23 Purchased office supplies from Depot for $395 cash. 25 Purchased $6,600 of merchandise on credit from Alfredo Co., terms n/30. 27 Paid employee salaries of $2,550 in cash. Date of Invoice PURCHASES JOURNAL Accounts Terms Payable Cr. Office Supplies Dr. Other Accounts Dr. Date Account Inventory Dr.

Suppose that kenji, an economist from an am talk radio program, and lucia, an economist from a school of industrial relations, are arguing over health insurance. the following dialogue shows an excerpt from their debate: lucia: a popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. kenji: i think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. lucia: i disagree. i think government funding of health insurance is useful to ensure basic fairness. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? lawyers make up an excessive percentage of elected officials. minimum wage laws do more to harm low-skilled workers than them. tariffs and import quotas generally reduce economic welfare.

Best burger is a major fast food chain. its managers are motivated to grow the firm in order to increase their market power and change the industry structure in their favor. which of the following strategies is most associated with their motive for growth? a. employing celebrity spokespeople b. implementing automated burger-making machinery c. purchasing competitors d. increasing executive salaries

Which of the following best explains the purpose of a supply schedule? a. to calculate how much time it takes for distribution. b. to indicate how supply and demand relate to price. c. to show the relationship between quantity supplied and prices. d. to demonstrate how the supply decreases as price increases.