Study the following transactions . journalize the transactions in a two-column journal, using the appropriate number to identify the transactions.
1. billed customers for fees earned, $55,330.
2. purchased supplies on account, $2,380.
3. received cash from customers on account, $52,010.
4. paid creditors on account, $1,440.

Financial performance is measured in many ways. requirements 1. explain the difference between lag and lead indicators. 2. the following is a list of financial measures. indicate whether each is a lag or lead indicator: a. income statement shows net income of $100,000 b. listing of next week's orders of $50,000 c. trend showing that average hits on the redesigned website are increasing at 5% per week d. price sheet from vendor reflecting that cost per pound of sugar for the next month is $2 e. contract signed last month with large retail store that guarantees a minimum shelf space for grandpa's overloaded chocolate cookies for the next year