Now suppose royal hardware raises its price to $7.00 per pound of nails. as a result, it now sells 5 pounds of nails. use the blue rectangle to draw the area that corresponds to the new price and quantity. did raising the price of nails increase royal hardware’s revenue?

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.