In economics, capital refers to
a. stocks and bonds.
b. buildings and machines used in the production process.
c. the money households use to purchase firms' output.
d. the finances necessary for firms to produce their products.

The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)