Date Account Title Debit Credit
Aug. 1 Cash 8,100
Common Stock 8,100
10 Cash 1,100
Service Revenue 1,100
12 Equipment 5,750
Cash 1,210
Notes Payable 4,540
25 Accounts Receivable 3,320
Service Revenue 3,320
31 Cash 670
Accounts Receivable 670

Post the transactions to T-accounts.

Goods and services that can be used for the same purpose are and goods and services that are used together are

After the 2008 recession, the amount of reserves in the us banking system increased. because of federal reserve actions, required reserves increased from $44 billion to $60 billion. however, banks started holding more reserves than required. by january 2009, banks were holding $900 billion in excess reserves. the federal reserve started paying interest on the excess reserves that the banks held. what possible impact will these unused reserves have on the economy?

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