The petty cash custodian reported the following transactions during the month. Prepare the journal entry to record the replenishment of the fund. A $12 cash payment is made to Starbucks to purchase coffee for a business client, a $58 cash payment is made for supplies purchased from Office Depot, and a $39 cash payment is made to UPS to deliver goods to a customer.

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?