Purchased new equipment for $3,200 by issuing a check for $2,000 as a down payment with the balance due in 30 days. Returned damaged supplies and received a $100 cash refund. Purchased supplies for $300 on account. Provided services for $7,300 on credit. Issued a check for $900 to pay a creditor on account. Issued checks for $3,400 to pay the employees their monthly salaries. Issued a check for $300 to pay the monthly telephone bill. Determine the accounts and amounts to be debited and credited for the above transactions for Madison's Clock Repair.

i do belive the correct answer is d.

explanation:

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; synthetic production system;