Joy's java café needs $4,000 cash per day for customer transactions. joy has a choice between going to the bank first thing on monday morning to withdraw $20,000 - enough cash for the whole week - or going to the bank first thing every morning for $4,000 each time. joy puts the cost of going to the bank at $3 per trip. assume that funds left in the bank earn precisely enough interest to keep their purchasing power unaffected by inflation. joy's java cafe is open 5 days a week for 50 weeks each year. when the inflation rate is 10% joy goes to the bank everyday instead of once a week. joy's annual shoe leather costs of inflation equal
a. $ 3
b. $150
c. $600
d. $750

A. economic resources to be used or turned into cash within one year. b. reports assets, liabilities, and stockholders' equity. c. decrease assets; increase liabilities and stockholders' equity. d. increase assets; decrease liabilities and stockholders' equity. e. an exchange or event that has a direct and measurable financial effect. f. accounts for a business separate from its owners. g. the principle that assets should be recorded at their original cost to the company. h. a standardized format used to accumulate data about each item reported on financial statements. i. the basic accounting equation. j. the two equalities in accounting that aid in providing accuracy. k. the account credited when money is borrowed from a bank using a promissory note. l. cumulative earnings of a company that have not yet been distributed to the owners. m. every transaction has at least two effects. n. amounts presently owed by the business. transaction, separate entity assumption, balance sheet, liabilities, assets, current assets, notes payable, duality of effects, retained earnings, debit.