Botanic choice sells natural supplements to customers with an unconditional sales return if they are not satisfied. the sales returns extends 60 days. on february 10, 2018, a customer purchases $4,000 of products (cost $2,000). assuming that based on prior experience, estimated returns are 20%. the journal entry to record the expected sales return and cost of goods sold includes a

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?