like now i have 10 miins left plz! will give 100 points!

record the following selected transactions for january in a two‐column journal. once you have completed that, answer questions 1 – 5 related to your work.

(a) earned $7,000 fees; customer will pay later.

(b) purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit

(c) paid $3,000 for rent for january.

(d) purchased $2,500 of supplies on account.

(e) a. allen $1,000 investment in the company.

(f) received $7,000 in cash for fees earned previously.

(g) paid $1,200 to creditors on account.

(h) paid wages of $6,250.

(i) received $7,150 from customers on account.

(j) a. allen withdrawal of $1,750.

2. for part (h), which two accounts are affected?

question 2 options:

fees earned and cash

wages expense and cash

accounts payable and cash

rent expense and cash

Financial markets and channel to . they also channel money from individuals who want to for the future to those who need cash to spend today. a third function of financial markets is to allow individuals and businesses to adjust their risk. for example, , such as the vanguard index fund, and , such as spdr's or “spiders,” allow individuals to spread their risk across a large number of stocks. financial markets provide other mechanisms for sharing risks. for example, a wheat farmer and a baker may use the to reduce their exposure to wheat prices. financial markets and intermediaries allow investors to turn an investment into cash when needed. for example, the of public companies are because they are traded in huge volumes on the . are the main providers of payment services by offering checking accounts and electronic transfers. finally, financial markets provide information. for example, the of a company that is contemplating an issue of debt can look at the yields on existing to gauge how much interest the company will need to pay.