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The Following Schedule Reflects the First Month's Transactions of the Blue

question 43

Essay

The following schedule reflects the first month's transactions of the Blue Real Estate Company:
 Accounts  Accounts  Common  Retained  Cash + Receivable + Supplies + Equipment  Payable + Stock + Earnings  a. 20,000+20,000 b. 5,0005,000 c. +1,500+1,500 d. +3,000+3,000 e. +1,000+1,500+2,500 f. 750750g+500500h.400400i.2,0002,000\begin{array}{|l|r|r|r|r|r|r|l|}\hline&&\text { Accounts } & & & \text { Accounts } & \text { Common } & \text { Retained } \\&\text { Cash }+ & \text { Receivable }+ & \text { Supplies }+ & \text { Equipment }- & \text { Payable }+ & \text { Stock }+ & \text { Earnings } \\\hline \text { a. } & -20,000 & & & & & +20,000 & \\\hline \text { b. } & -5,000 & & & -5,000 & & & \\\hline \text { c. } & & & +1,500 & & +1,500 & & \\\hline \text { d. } & +3,000 & & & & & & +3,000 \\\hline \text { e. } & +1,000 & +1,500 & & & & & +2,500 \\\hline \text { f. } & -750 & & & & -750 & &\\\hline \mathrm{g} & +500 & -500 & & & & & \\\hline \mathrm{h} . & && -400 & & & & -400 \\\hline \mathrm{i} . & -2,000 & & & & & & -2,000 \\\hline\end{array}

Provide descriptions for each transaction.

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Definitions:

Economy

The large set of interrelated production, consumption, and exchange activities that aid in determining how scarce resources are allocated.

Full-Employment

Full-employment refers to the level of employment rates where there is no cyclical or deficient-demand unemployment, essentially meaning that everyone who wants to work and is able to work can find employment at the current wage rates.

Real GDP

Is the inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, providing a more accurate depiction of an economy’s size and growth rate.

Jobless Recovery

A period in which the economy recovers from a recession but the job market does not, leading to stagnant or rising unemployment despite growth.

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