Karns company purchased merchandise on account from bailey office suppliers for$174,000, with terms of 2/10, n/30. during the discount period, karns returned somemerchandise and paid $156,800 as payment in full. karns uses a perpetual inventorysystem. prepare the journal entries that karns company made to record:

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)

Taking commercial paper means the holder acts honestly

Which of the following is one of the main causes of inflation? a. wages drop so workers have to spend a higher percentage of income on necessities. b. demand drops and forces producers to charge more to meet their costs. c. rising unemployment cuts into national income. d. consumers demand goods faster than they can be supplied.