Smith Auto uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. July 3 The company purchased $3,300 of merchandise on credit from Advanced Parts, terms n/60. July 6 The company sold $700 of merchandise for cash (cost is $550) to O’Reily. July 7 The owner, A. Smith, contributed equipment worth $5,400 to the company. July 9 The company sold $850 of used equipment (noninventory) on credit to Junk Yard, terms n/30. July 13 The company sold $3,600 of merchandise (cost is $3,200) on credit to J. Bell, terms n/30. July 15 The company granted J. Bell an allowance (price reduction) of $540 for merchandise purchased on July 13. Smith Auto credited accounts receivable for that amount. July 22 The company purchased a building for $24,000 by issuing a note payable. July 26 The company paid salaries of $4,600 with cash. 1. Journalize its transactions that should be recorded in the general journal. 2. Identify the journal where each of the following transactions should be recorded.

The chromosome manufacturing company produces two products, x and y. the company president, jean mutation, is concerned about the fierce competition in the market for product x. she notes that competitors are selling x for a price well below chromosome's price of $13.50. at the same time, she notes that competitors are pricing product y almost twice as high as chromosome's price of $12.50.ms. mutation has obtained the following data for a recent time period: product x product y number of units 11,000 3,000 direct materials cost per unit $3.23 $3.09 direct labor cost per unit $2.22 $2.10 direct labor hours 10,000 3,500 machine hours 2,100 1,800 inspection hours 80 100 purchase orders 10 30ms. mutation has learned that overhead costs are assigned to products on the basis of direct labor hours. the overhead costs for this time period consisted of the following items: overhead cost item amount inspection costs $16,200 purchasing costs 8,000 machine costs 49,000 total $73,200using direct labor hours to allocate overhead costs determine the gross margin per unit for product x. choose the best answer from the list below.a. $1.93b. $3.12c. $7.38d. $2.43e. $1.73using activity-based costing for overhead allocation, determine the gross margin per unit for product y. choose best answer from list below.a. $10.07b. ($2.27)c. ($5.23)d. ($7.02)e. $7.02

He interest rate effect is the change in real gdp caused by the federal reserve adjusting target interest rates. is the change in consumer and investment spending due to changes in interest rates resulting from changes in the aggregate price level. is the change in exports and imports, resulting from changes in the interest rate caused by changes in the aggregate price level. is the change in investment spending and government purchases caused by changes in money demand. is the change in interest rates, caused by changes to government purchases.

Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither. statement consumer surplus producer surplus neither a local store was having a sale on textbooks, so i bought a used textbook for my brother. i sold a watch for $61, even though i was willing to go as low as $55 in order to sell it. even though i was willing to pay up to $116 for a used laptop, i bought a used laptop for only $110.