Novak Corp. provides security services. Selected transactions for Novak Corp. are presented below. Oct. 1 Issued common stock in exchange for $62,000 cash from investors. 2 Hired part-time security consultant. Salary will be $1,900 per month. First day of work will be October 15.4 Paid 1 month of rent for building for $2,100.7 Purchased equipment for $19,100, paying $4,200 cash and the balance on account.8 Paid $500 for advertising.10 Received bill for equipment repair cost of $410.12 Provided security services for event for $3,400 on account.16 Purchased supplies for $430 on account.21 Paid balance due from October 7 purchase of equipment.24 Received and paid utility bill for $157.27 Received payment from customer for October 12 services performed.31 Paid employee salaries and wages of $5,400.a) Journalize the transactions.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.